Millennium Post

Rs 2 trillion revenue likely from 33 coal mines auctioned

The government on Thursday said around Rs 2.09 lakh crore revenue is likely to be generated from 33 coal mines already auctioned.

“The total estimated amount of revenue likely to be generated from 33 coal mines already auctioned is Rs 2,09,740 crore,” Minister of State for Power and Coal Piyush Goyal said in a written answer to Lok Sabha.

The Minister said six major coal producing states such as Odisha, Jharkhand and Chhattisgarh are likely to get Rs 1.83 lakh crore as e-auction proceeds and Rs 25,029 crore as royalty. Besides, these
states would get Rs 1,100 crore towards upfront payment.

“In addition, power fuel cost will reduce by approximately Rs 96,971 crore resulting in power tariff savings for consumers,” the Minister added.

Government has recently started auctioning of Schedule - II and III coal mines as per the provisions of the Coal Mines (Special Provisions) Second Ordinance, 2014.
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