Coal block auction: Rs 1.09 lakh crore to go to states coffers

Ranchi: Approximately Rs 1.09 lakh crore would go to the coffers of states like Chhattisgarh, West Bengal, Jharkhand, Odisha and Maharashtra following auction of 19 coal blocks held last night, Union Coal Secretary Anil Swarup said today. [caption id=“attachment_2117073” align=“alignleft” width=“380”] Representational image.[/caption] “In addition to this amount, the states will get a royalty up to 12,500 crore,” Swarup said at a press conference in Ranchi. He said the 19 blocks for which auction was completed last night were among the 42 blocks categorised in the Schedule-II as per the three schedules marked in the central ordinance on coal blocks following their cancellation by the Supreme Court. Expressing satisfaction at the transparent auction, he said six of the mines had ‘reverse auction’ to link electricity tariff in a downward bidding from a ceiling point. Hoping that allotment or auction of 204 coal blocks would be completed by March 31, 2016, Swarup said, “There will be allotment of blocks for state entities and auction for private entities.” PTI