Govt mops up Rs 8,965 cr till Nov from auctioned, allotted coal blocks
The government mopped up Rs 8,964.75 crore till last month from the auctioned and allotted mines, according to the coal ministry. These revenue figures consist of upfront amount and monthly premium only, while royalty and taxes or cess are payable over and above these payments, the coal ministry said in its E-Booklet on reforms.
Apart from 204 coal mines covered under the Coal Mines (Special Provisions) Act, the remaining blocks are allocated under the Mines and Minerals (Development and Regulation) Act.
Till date, 11 coal blocks under the MMDR Act have been allotted to various government companies, where two blocks are for commercial purpose and the remaining nine are for captive end-use, it said.
In 2015, the central government brought in the Coal Mines (Special Provisions) Act to re-allocate coal blocks cancelled by the Supreme Court in 2014.
The Act ensured continuity in operation of the producing mines and bringing into production other mines expeditiously. It also amended the Coal Mines (Nationalisation) Act and the MMDR Act, thereby bringing uniformity in provisions of all the three Acts governing coal block allocation.
The Act permitted auction of coal mines for commercial mining by private entities. The proceeds of auctions shall accrue to respective states.
