In view of acute requirement of dry-fuel in downstream sectors, the government has laid down a plan to auction coal blocks which will also be a major boost for increasing the revenue streams for the mine bearing states.
The development assumes significance in the wake of the Ministry of Coal launching the third round of commercial coal mining for 88 coal mines last month.
The coal ministry is planning to organise road shows in different parts of the country to create sensitisation on the amendments made in Acts and Rules and generate private sector interest and participation.
These road shows will be organised in Ranchi, Hyderabad and Ahmedabad, according to a notice by the coal ministry.
In this regard, the Ministry of Coal will appoint a Programme Management Partner to organise and manage this event successfully.
The country has an estimated 350 billion tonnes of coal deposits, which is third largest in the world. However, 25 per cent of coal demand is still catered through imports.
The Ministry of Coal has been working on a plan to reform the sector by privatising coal mining in the country after removing restriction on the end use of coal earlier in the last year January by promulgating Mineral Laws (Amendment) Ordinance, 2020 to enable wider participation in auction of coal mines.
Further, 100 per cent Foreign Direct Investment was permitted under automatic route for coal mining activities including associated processing infrastructure.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU