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Coal auction proceeds to cross Rs.2 lakh crore

Coal auction proceeds to cross Rs.2 lakh crore

Proceeds from the ongoing coal block auctions are likely to cross Rs 2 lakh crore, surpassing CAG´s estimate of Rs 1.86 lakh crore loss on account of the allocation of blocks without auction during the UPA regime. ´Likely proceeds from coal block auctions [may] cross Rs 2 lakh crore. These include e-auction proceeds, royalty proceeds and upfront payment,´ Coal Secretary Anil Swarup said.´Apart from this, around Rs 97,000 crore of additional tariff benefit will accrue to the consumers of power through reverse auction of coal blocks,´ he added.
The government kitty swelled by an estimated Rs 9,537.22 crore from sale of Utkal C mine in Odisha to Monnet Power Company.

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