The officials recommended that the word "transparent" should be inserted before the sentence "competitive bidding process" in the Coal Block Allocation Rules of 2017, which state that ...
CHAPTER 7 COAL DISTRIBUTION AND MARKETING ANNUAL REPORT 201920 COAL DISTRIBUTION AND MARKETING Coal Distribution and Marketing Allocation of coal to power, cement and steel plants The allocation of coking coal to Steel plants was earlier made by the Coal Controller.
4. FIRMS ELIGIBLE FOR A COAL ALLOCATION • Historically, the economy of India could be characterized as broadly socialist, with the government directing large sectors of the economy through a series of Fiveyear Plans. • In keeping with this centralized approach, between 1972 and 1976, India nationalized its coal mining industry, with the stateowned companies Coal India limited(CIL) and ...
Recently announced Reforms in Coal Sector. Commercial mining of coal allowed, with 41 blocks to be offered to the private sector. The coal mines being auctioned are located in Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra and Odisha. They include partially and fully explored mines. Simplified the process of the mining plan approval ...
It has been a decade since the country was engulfed by the coal allocation scandal. A 2012 report by the Comptroller and Auditor General (CAG) declared that the Coal Ministry's failure to adopt competitive auctions for coal blocks led to gains worth ₹ lakh crore for private actors. The public discourse rapidly degenerated into treating this entire sum as a loss to the exchequer.
The Coal allocation scam, dubbed in media as Coalgate, is a major political scandal concerning the Indian government's allocation of the nation's coal deposits to public sector enterprise (PSEs) and private companies.
Main features of the Policy Guidelines are as follows: Only the following types of lands will be considered: Lands which are no longer suitable or economically viable for coal mining activities; or Lands from which coal has been mined out / decoaled and such land has been reclaimed.
Allocation process was arbitrary, discretionary and nontransparent. There was no consideration of Merit, no Price discovery mechanism for national resources. Till now, the PSU, Coal India was the only commercial miner in the country for more than four decades which has shown monopolistic tendencies in the sector. Monopoly in mining sector was ...
The Amendment Act seeks to provide for grant of reconnaissance permit, prospecting licence or mining lease in respect of an area containing coal and lignite through auction by competitive bidding, on such terms and conditions as may be prescribed. This, would however, not be applicable in the following cases:
Need for Coal Gasification: Abundant indigenous Coal Source Source: GSI Coal Inventory 2020 2 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 Proved Indicated Inferred Total Coking Thermal Total Coal Resources in India (Million tons) • It is evident that India has huge reserves of coal, it would be beneficial for India if it ...
of coal to small, medium and other consumers 14 states have nominated 18 State Agencies, of which 09 Agencies have signed FSA for a quantity of million tonnes. EAuction of coal Coal India Limited Coal is being regularly sold through electronic auction (eauction) route at a market driven price in accordance to the NCDP provision.
A list of 143 coal blocks was prepared initially and inflated to 216 later. At that time, there were no concrete guidelines for allocation of coal blocks as coal mining was largely restricted to PSUs and many geographic locations were seen as unsuitable for profitable mining. The guidelines were periodically revised through 1993, 1998 and 2003.
Auction/Allotment. Coal mining in India has been metamorphosed as far as the policy framework is concerned. From an earlier restrictive model, we have moved on to granting coal mining blocks pursuant to a competitive bidding process, and from prescribing specific enduse to permitting commercial sale of coal. The auctionbased regime introduced ...
[Section 9A] After taking into consideration the report, if any, the Central Government shall make a declaration with respect to acquisition of the land. Such declaration must be made within three years of the notification, and shall be published in the Official Gazette.
Advertisement. The CAG in its final report earlier this week said private firms are likely to rake in Rs lakh crore from allocation of 57 coal blocks without competitive bidding between 2005 and 2009. Coal minister Sriprakash Jaiswal in his statements to the press purported gains accruing to the companies was unviable: We do not agree with ...
In comparison Coal India produced 462 million tons of coal. Some Indian companies and also CIL have acquired coalmines overseas to ensure continuous supply. Procedure established till now in Coal Mining ... Allocation process was arbitrary, discretionary and nontransparent.
The CMSP Act provides for the auction and allocation of mines whose allocation was cancelled by the Supreme Court in 2014. ... The Bill clarifies that the companies need not possess any prior coal mining experience in India in order to participate in the auction of coal and lignite blocks. Further, the competitive bidding process for auction of ...
Despite India being the world's fourthlargest country in terms of availability of coal reserves, we still import around 240 million tonnes (mt) of coal a year valued at about ₹ lakh crore.
New Delhi | Updated: October 19, 2020 12:38 IST Follow Us While there have been several convictions in the wide range of coal blocks cases, this is the first time that an NDA minister has been convicted.
The Coalgate Scam was unearthed by the CAG report on allocations of coal blocks. CAG report alleged that a loss of Rs. lakh crore was caused to the exchequer because of a nontransparent and discretionary allocation process. The beneficiaries of the scam are private players who have made windfall gains and have received highly valuable natural resources at almost free of cost.
2. About 194 blocks were allocated to private establishments in this manner. 3. This political scam took centrestage when the Comptroller and Auditor General (CAG) of India report in 2012 highlighted that the failure to auction 194 coal blocks amounted to huge losses to the Indian government. 4.
Production in India has largely been restricted to staterun Coal India Ltd and another smaller governmentcontrolled company. While coal still accounts for over 70% of India's power production ...
Coal allocation scam or Coalgate as referred by the media, is a political scandal concerning the Indian government's allocation of the nation's coal deposits to public sector entities (PSEs) and private companies. In a draft report issued in March 2012, the Comptroller and Auditor General of India (CAG) office accused the Government of India of ...
India has the world's fourth largest coal reserves, but the country imported million tonnes (mt) of coal in 201920. Commercial coal mining will likely reduce India's dependence upon ...
India's significant coalfields include the Raniganj coalfield in West Bengal, the Jharia coalfield in Jharkhand, and the Singrauli coalfield in Madhya Pradesh and Uttar Pradesh. The coalfields in India are significant sources of employment and income for people living in these areas. Major coalfields in India and their characteristics
coal mines covered under the CMSP Act, remaining blocks are allocated Act. Till date 11 coal blocks under the MMDR Act have been allotted to Government companies, where 2 blocks are remaining 9 are for for commercial purpose captive end use. and various under the MMDR Apart from 204 only while royalty till Nov. 2020. The total revenue
Coal allocation scam or Coalgate, is a political scandal concerning the illegal allocation of the nation's coal deposits to public sector entities (PSEs) and private companies by Prime Minister Manmohan Singh. In a draft report issued in March 2012, the Comptroller and Auditor General of India (CAG) office accused the Government of allocating ...
What are the rules that govern the allocation of Coal Block in India April 12, 2017 6585 1 In this article, Akshita Rishi who is currently pursuing IN BUSINESS LAWS, from NUJS, Kolkata, discusses the rules that govern the allocation of Coal Blocks in India. Introduction
The coal allocation scam, popularly known as 'Coalgate' in media. It is a political scandal that was surrounded by the UPA govt. in 2012. As we all know India is a country rich of minerals, spices, and so does has a huge deposits of coal. There are many blocks of coal in India which is under government control.
The legal framework for allocation of cancelled coal blocks was provided through the Coal Mines (Special Provisions) Act, 2015 (preceded by the two Ordinances in October 2014 and ... also provided for fixation of a ceiling price for power sector coal mines, which was to be Coal India Limited (CIL) notified price for the equivalent grade of coal ...
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