Can state governments auction coal mines?

Except for coal, states are allowed to auction other mines in consultation with the mines ministry. Parliament in September 2020 approved an Ordinance promulgated in June to improve revenue from the mining sector and the Centre now wants states to carry out these changes too.

How many coal mines have been auctioned by the central government?

कोयला मंत्रालय Ministry of Coal Now, the sector has been opened up for commercial coal mining by private players in 2020 and first ever successful auction of commercial mining was launched by the Hon’ble Prime Minister on 18.06. 2020 and concluded with allocation of 19 coal mines.

Can state government auction non coal mines?

In India, State Governments do not have the power to auction non-coal mines. Andhra Pradesh and Jharkhand do not have gold mines.

Who owns coal mines in India?

the Central Government of India
As of 14 October 2015, CIL is a PSU owned by the Central Government of India which controls its operations through the Ministry of Coal. As of 14 October 2015, CIL’s market capitalisation stood at ₹2.11 lakh crore (US$28 billion) making it India’s 8th most valuable company.

Can state government auction coal mines Upsc?

No. No auction revenue will accrue to the Union Government. Coal mines are auctioned under the provisions of Coal Mines (Special Provisions) Act, 2015 and Mines and Minerals (Development and Regulation) Act, 1957.

What is coal mine auction in India?

The Central Government promulgated the Coal Mines (Special Provision) Act, 2015 to enable the Government to re-allocate the 204 coal blocks which were cancelled by the Hon’ble Supreme Court of India. The Act permitted auction of coal mines for commercial mining by private entity.

What is auction of coal mines?

Why are coal mines auctioned?

The government, it said, is on a continuous journey to reform the coal sector and unlock value for the nation’s economy. The success of these auctions will help in further strengthening the vision of an Aatmanirbhar Bharat, as it will help reduce the country’s coal imports and ensure energy security.

Who can auction non coal mines?

As per the new mining law — Mines and Minerals (Development and Regulation) Amendment Act, 2015 — which came into effect from January 2015, the non-coal mines have to be auctioned by the respective state governments. The first ever non-coal auction in the country began in December, 2015.

In which year the Government of India nationalized the coal mines and established Coal India?

The Coking Coal Mines (Emergency Provisions) Act 1971 was promulgated by Government on 16 October 1971 under which except the captive mines of IISCO, TISCO, and DVC, the Government of India took over the management of all 226 coking coal mines and nationalised them on 1 May, 1972.

Is ECL a government company?

ECL (india) Private Limited is an Indian Non-Government Company. It’s a private company and is classified as’company limited by shares’.

What is coal auction?