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Centre pockets R6,108 cr from cancelled blocks levy, a week ahead of coal auction

The CAG had computed the figure of Rs 295 per metric tonne as additional levy.

Written by Priyadarshi Siddhanta | New Delhi | Published: February 8, 2015 2:06:04 am

A week before the auction of 23 coal blocks begins, the government has already pocketed Rs 6,108 crore by way of additional levy realised from owners of 31 cancelled coal blocks, including companies like Jindal Steel and Power Limited (JSPL), GVK Power and Hindalco Industries.
This Supreme Court had in September last year canceled allocation of 214 coal blocks after holding their allotment as illegal and arbitrary. It also imposed an additional levy of Rs 295 per metric tonne on holders of 46 mines which for extracting coal since commencement of the mines. Also included in the list of 46 blocks are those mines which will cease operations on March 31 this year. The government is eyeing a revenue of nearly Rs 10,500 crore from additional levy, a coal ministry source said. The CAG had computed the figure of Rs 295 per metric tonne as additional levy.

Naveen Jindal-promoted companies JSPL and Jindal Power Limited (JPL) have paid little over Rs 3,000 crore to the exchequer for extracting coal from their three cancelled blocks in Chhattisgarh.

For Gare Palma IV/1 mine, JSPL has paid Rs 1,989.8 crore and for Gare Palma IV/2 and IV/3 blocks, JPL has paid Rs 1,099.4 crore.

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