Govt generated Rs 2,779-cr revenues from 83 coal mines – Feedback

The government has so far generated a revenue of approximately Rs.2,779 crore from the auction and allotment of 83 coal blocks, Parliament was informed today.

“Till now, 83 coal mines have been allocated to private and public sector under the provisions of the Coal Mines (Special Provisions) Act 2015. So far, a revenue of Rs. 2,779.36 crore (approx) has already been generated,” Piyush Goyal, Minister of State for Coal, Power, New and Renewable Energy and Mines said in a reply to Rajya Sabha. He added that the amount is being transferred to the respective state governments where the coal mines are located. “Revenue which would accrue to the coal bearing state government concerned from allocation of coal mines under the provisions of the said Act comprises upfront payment as prescribed in the tender/allotment document, auction/allotment proceeds and royalty on per tonne of coal production,” the Minister said in a separate reply.

http://www.thehindubusinessline.com/economy/govt-generated-rs-2779cr-revenues-from-83-coal-mines-goyal/article9394341.ece

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