New Delhi: Prime Minister Narendra Modi (Narendra Modi) will start the process of auctioning 41 coal blocks at 11 am today. The auction of these coal blocks (Coal Block Auction) will start commercial mining of coal blocks in the country. An investment of about Rs 33,000 crore in the next five to seven years in the commercial mining of these coal blocks is estimated. According to the information, the state governments will get a revenue of Rs 20,000 crore annually from these blocks. Let us know that these 41 mines have a capacity to produce 22.5 million tonnes and these mines will contribute about 15 percent of the total coal production in the country by 2025-26.
According to the information, it is expected to directly or indirectly provide employment to more than 2.8 lakh people and it is expected to directly employ about 70,000 people. On this occasion, Prime Minister Narendra Modi will speak on the self-reliant India campaign, energy needs, revenue, employment, and coal sector. Coal Ministry and FICCI are organizing this program together. Under the self-sufficient India campaign, the government has decided to auction coal blocks for commercial mining. The auction will increase private sector participation in the coal sector. The government hopes that this will increase production and competitiveness in the coal sector … New technology will be used in the coal sector.
FICCI Chairman Dr. Sangeeta Reddy and Vedanta Group Chairman Anil Aggarwal and Tata Sons Chairman N. Chandrasekaran will also address the industry on the occasion. Coal and Mines Minister Prahlad Joshi will also be present on this occasion. Recently, a decision to this effect was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) headed by the Prime Minister. The bid criteria will be based on revenue share as per the methodology approved by CCEA. Bidders will have to bid based on the percentage share of revenue payable to the government.