Centre gets Rs 726 crore from auction of 31 coal blocks

Government has generated a revenue of Rs 726 crore from the auction of 31 coal blocks, Parliament was informed on Thursday.

"The actual revenue generated till January 2016 only from auction of 31 coal mines under the provisions of the Coal Mines (Special Provisions) Act, 2015 is Rs 7,26,32,97,858 (provisional)," Coal and Power Minister Piyush Goyal said in a written reply to Lok Sabha.

The minister further said "the estimated revenue which would accrue to the coal bearing states concerned from the allotment of 43 coal mines and auction of 31 coal mines during the life of mine/lease period is Rs 1,96,698 crore and Rs 1,48,276 crore respectively."

Goyal further said the fourth round of coal blocks auctions for the non-regulated sector was cancelled in view of the prevalent market conditions which included sharp decline in e-auction price of coal from Coal India as well as the international FOB price of non-coking coal among other factors.

The three round of mines auction were held last year after the Supreme Court in 2014 cancelled the allotment of 204 coal blocks.