Govt,India Garners Rs.5,164 Cr From Ongoing Coal Mines Auction
09 March, New Delhi
In another revenue bonanza from the ongoing auction of coal mines, the government Sunday garnered Rs 5,164 crore from sale of two more mines to Jaypee Cement and Ambuja Cements, with cumulative proceeds surging to Rs 1.57 lakh crore.
Two more coal blocks will be put up for auction when bidding starts today. In the ongoing second leg of the coal block auction, government has put up 15 blocks for sale, which are under the ready-for- production category.
It has sold 12 out of these 15. The government generated a revenue of over one lakh crore rupees from auction of 19 mines in the first round.
The auctions follow the Supreme Court’s decision last year to cancel the allocation of 204 coal mines.