Rs 3.35 lakh crore to flow to states from coal auction, allotment

The states are likely to reap financial gains of more than Rs 3.35 lakh crore from the recent allotment of mines to PSUs and auction of blocks to the private sector, a senior government official said today.

"Potential revenue of more than Rs 3.35 lakh crore to flow to the states from auction and allotment of coal blocks," Coal Secretary Anil Swarup tweeted.

The government yesterday allotted 38 mines to central and state public sector units, including power major NTPC, DVC and steel giant SAIL.

As per the original plan, the government had to allot 43 mines but it came out with the list of 38 mines as there were no applications for some coal blocks, officials said.

Also Read: Coal block auction money to wipe out fiscal deficit of Indian states

All the blocks allotted were for the power sector, barring one Sitanala mine that was given to SAIL.

As per the government list, out of the 38 blocks, a maximum of 8 blocks -- Barjora, Barjora (North), Gangaramchak & Gangaramchak Bhadulia, Tara East & Tara West, Pachwara North and Kasta East had fallen in the bag of West Bengal Power Development Corporation Ltd.

Karnataka Power Corporation was given six blocks - Baranj I, II, III & IV and Manora Deep and Kiloni.

National Thermal Power Corporation (NTPC) bagged five mines -- Chhatti Bariatu, Chatti Bariatu (South), Kerandari, Talaipalli and Dulanga.

The government recently auctioned 33 coal blocks in two tranches to private companies, garnering over Rs 2 lakh crore.