74 coal mine allotments generate revenue of Rs 2,237 cr

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SME Times News Bureau | 26 Jul, 2016
Revenue of around Rs 2,237 crore has been generated till the end of May from the allocation of 74 coal mines, out of the lot of over 200 mines whose earlier allotments had been cancelled by the Supreme Court, parliament was told on Monday.

"The revenue already generated till May 31, 2016 from the allocation of 74 coal mines under the provisions of the Coal Mines (Special Provisions) Act, 2015 is Rs 2,237 crore (excluding royalty, cess and taxes) which shall be devolving entirely to the coal bearing state concerned," Coal and Power Minister Piyush Goyal told the Rajya Sabha in a written reply.

The government has so far allocated 75 coal mines for specified end uses, including 31 through auctions.

"The revenue which shall accrue to the coal bearing states concerned during the life of mine/lease period from the allocation of these 75 coal mines is estimated at more than Rs 3.53 lakh crore," the minister said.

The estimated revenue from the e-auction of 31 coal mines is Rs 1,96,689 crore, he added.