64th Day Of Lockdown

Maharashtra54758169541792 Tamil Nadu177289342128 Delhi152577264303 Gujarat148297139915 Rajasthan76804341172 Madhya Pradesh70243689305 Uttar Pradesh67243824177 West Bengal40091486283 Andhra Pradesh3117206558 Bihar300680014 Karnataka240576245 Punjab2106191840 Telangana1991128457 Jammu and Kashmir175983324 Odisha15937337 Haryana130582416 Kerala9645426 Assam683634 Jharkhand4261534 Uttarakhand400644 Chhatisgarh360790 Chandigarh2781874 Tripura2321650 Himachal Pradesh223634 Goa67280 Puducherry49170 Manipur3940 Meghalaya20121 Nagaland900 Arunachal Pradesh210 Mizoram110 Sikkim100
Nation Current Affairs 20 Feb 2018 Govt opens coal mini ...

Govt opens coal mining for private sector, ends monopoly of Coal India

PTI
Published Feb 20, 2018, 4:47 pm IST
Updated Feb 20, 2018, 4:47 pm IST
The reform is expected to bring efficiency in the coal sector by moving from an era of monopoly to competition.
India is said to have coal reserves of up to 300 billion tonnes. (Photo: PTI/Representational)
 India is said to have coal reserves of up to 300 billion tonnes. (Photo: PTI/Representational)

New Delhi: The government on Tuesday approved opening up of coal mining to the private sector for commercial use, a major reform in the sector since its nationalisation in 1973.

Announcing the decision taken by the Cabinet Committee on Economic Affairs (CCEA), coal and railways minister Piyush Goyal said the reform is expected to bring efficiency in the coal sector by moving from an era of monopoly to competition.

 

“It will increase competitiveness and allow the best possible technology into the sector. The higher investment will create direct and indirect employment in coal bearing areas, especially in the mining sector and will have an impact on economic development of these regions,” he said.

While coal mines were till now auctioned for captive power generation, they will now be sold in an e-auction to private domestic and global miners.

The CCEA, chaired by Prime Minister Narendra Modi, has approved the methodology for auction of coal mines / blocks for sale of coal under the Coal Mines (Special Provisions) Act, 2015 and the Mines and Minerals (Development and Regulation) Act, 1957, according to Goyal.

"The opening up of commercial coal mining for private sector is the most ambitious coal sector reform since the nationalisation of this sector in 1973,” the minister said.

India is said to have coal reserves of up to 300 billion tonnes.

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT