Millennium Post

Coal mine auctions spell Rs15 trillion for states over next 30 years: Goyal

The allocation of coal blocks, including through the ongoing auction, will fetch a whopping Rs 15 lakh crore over the next 30 years, for the respective states, Union Minister Piyush Goyal said on Thursday.

He further said that bidding for coal mines would also ensure adequate fuel supply to end-use plants. “The important thing is that post these auctions (of coal block) there will be three to four very important changes...Overall the entire economy will get a push with adequate fuel reaching these end-use plants,” Goyal told reporters here. Post auctions, he said, the country would also see the power costs coming down because the benefit of the auction will have to be passed on to the consumers.

The Eastern part of the country, particularly Odisha, Jharkhand, West Bengal and Chhattisgarh will get significant amount of revenues from the auction of the mines which would help them to develop faster.


Our contributor helps bringing the latest updates to you

Share it