NDA Govt approves Coal Allocation Ordinance Wednesday Dec 24,2014

 

The coal allocation ordinance was passed by the Lok Sabha but it was not allowed to be taken up for discussion in the Rajya Sabha. That ordinance has been re-promulgated,” Union Finance Minister Arun Jaitley told reporters in the afternoon, shortly after the Cabinet meeting chaired by Prime Minister Narendra Modi ended.

It will facilitate e-auction of coal blocks to private companies for captive use and allot mines directly to PSUs. The process for auctioning the first set of 24 coal mines will begin tomorrow, Coal Secretary Anil Swarup later said.

The NDA Government on Thursday Dec 25,2014 launched the e-auction portal for coal mines. The portal for registration has started functioning from today while the tender documents will be released on December 27,2014

The government has approved re-promulgation of the coal ordinance and necessary guidelines for mine allocations and said the coal-rich states stand to earn Rs 7 lakh crore over the next 30 years.

These states include Odisha, Jharkhand and West Bengal, which account for most of the 204 coal blocks whose allocations were cancelled by the Supreme Court and the government is now re-allocating them -- through auction or direct allotments


Coal and Power Minister Piyush Goyal has tweeted, "Launched the e-auction portal for coal mines enabling registration of bidders today".

The e-auction process would start with 24 coal mines.This will include 7 for the power sector, 16 for other end-use steel and cement plants as also captive power units, and one mine for steel.

The Coal Mines (Special Provisions) Bill that sought to replace an earlier ordinance was passed by the Lok Sabha in the winter session but did not come up for discussion due to disruptions in the Rajya Sabha. Coal minister Piyush Goyal said




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