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Goyal: Coal block auction to be completed by March 31

The envisaged production from following auctioning in the first round of coal blocks would be around 200 million tonne, Goyal informed the House.

By: ENS Economic Bureau | New Delhi |
November 28, 2014 1:42:39 am

Coal minister Piyush Goyal on Thursday said e-auctioning of the canceled coal blocks would be completed by March 31, 2015. In case the bidding process is delayed, then a designated authority has been empowered by a recently promulgated ordinance to would take over the mines.

Replying to a query in the Lok Sabha, Goyal said as per the Supreme Court’s Order on September, 36 coal blocks can continue to produce fuel till March 31, 2015. Efforts are on to complete e-auctioning of identified mines in a transparent manner.

“However, in case the auctioning is delayed, then the Coal Mines (Special Provisions) Ordinance 2014 empowers a designated authority to take over the mines, which could not be bidded out,” he said.

The envisaged production from following auctioning in the first round of coal blocks would be around 200 million tonne, Goyal informed the House.

After the Supreme Court cancelled the allocation of 204 blocks in September, the government has set a target to auction 72 mines in the first phase by March 31.

“As regards financial implication of the judgment on the coal sector, the total amount of additional levy payable by the allocatees of producing blocks for coal produced or likely to be produced up to March 31, 2015 is estimated at Rs 10,494.36 crore,” a PTI report quoted Goyal as saying. He countered Congress MP Jyotiraditya Scindia who said that cancellation of mines has created a ‘crisis’ for the government, by saying that it is an opportunity, not a crisis for it will help clean up the sector.

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