State-run PSUs can take up commercial mining in 16 coal mines -Governance Now

State-run PSUs can take up commercial mining in 16 coal mines

Coal secretary announced move that can help discover market-determined prices

GN Bureau | June 22, 2016

#PSU #Coal #Coal India #Coal Ministry #Anil Swarup

For the first time, the coal ministry expects to discover market-determined prices for coal after it allots 16 coal mines to state government-run companies for commercial mining.

The allotments will be made by September and production is expected to start in a year or two after that, the Hindu Business Line has reported.

There will be no restriction on where the coal is sold from these mines and the prices at which it is sold, coal secretary Anil Swarup said on June 20.

“There will no restriction on pricing from our end. We hope this will lead to discovery of market-determined pricing of coal for the first time in the country. Right now Coal India is determining the price. With another entity coming in, some sort of a market will be created and price discovery will happen,” Swarup was quoted as saying. He expected the move to benefit small and medium enterprises.

Out of the 16 mines identified for commercial coal mining by state government-owned companies, eight will be given to the host state and eight will be available for public sector companies of other states. The host states for which eight mines have been reserved are Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Telangana and West Bengal.

The 16 mines have geological reserves of 2.137 billion tonnes and are expected to add an additional 40 million tonnes of annual coal production in India.

Read the report here

Comments

Other News

‘Oral cancer deaths in India cause productivity loss of 0.18% GDP’

A first-of-its-kind study on the economic loss due to premature death from oral cancer in India by the Tata Memorial Centre has found that this form of cancer has a premature mortality rate of 75.6% (34 premature events / 45 total events) resulting in productivity loss of approximately $5.6 billion in 2022

Days of Reading: Upendra Baxi recalls works that shaped his youth

Of Law and Life Upendra Baxi in Conversation with Arvind Narrain, Lawrence Liang, Sitharamam Kakarala, and Sruti Chaganti Orient BlackSwan, Rs 2,310

Voting by tribal communities blossoms as ECI’s efforts bear fruit

The efforts made by the Election Commission of India (ECI), over last two years, for inclusion of Particularly Vulnerable Tribal Groups (PVTG) communities and other tribal groups in the electoral process have borne fruit with scenes of tribal groups in various states/UTs participating enthusiastically in t

GST revenue for April 2024 at a new high

The gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST

First Magahi novel presents a glimpse of Bihar bureaucracy a century ago

Fool Bahadur By Jayanath Pati (Translated by Abhay K.) Penguin Modern Classics, 112 pages, Rs 250 “Bab

Are EVs empowering India`s Green Transition?

Against the backdrop of the $3.5 billion Production-Linked Incentive (PLI) scheme launched by the Government of India, sales of Electric Vehicles (EVs) are expected to grow at a CAGR of 35% by 2032. It is crucial to take into account the fact that 86% of EV sales in India were under the price bracket of $2