The revision to the Coal Mines (Nationalisation) Act of 1973 would allow domestic and international enterprises to participate in the coal block allocation case process. The revised legislation, which would make auctions mandatory for the distribution of coal blocks after 2010, would leave no room for the administrative power to be biassed or ...
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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.
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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 ...
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Coal has been mined in India since the 18th century and India is currently the world's second largest producer and consumer of coal behind China. Following independence in 1947 the industry was smallscale with poor working practices and working conditions, and the rather piecemeal nature of the sector led to a mismatch between supply and ...
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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 ...
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Allocation of coal mines cancelled/deallocated by Hon'ble Supreme Court of India (i) The allocation of 204 coal mines deallocated by Hon›ble Supreme Court is now made under the provisions of the Coal Mines (Special Provisions) Act, 2015. Under the provisions of the said Act, 99 coal mines have so far been successfully allocated.
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As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocation mean for the country's economy going ahead?
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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 ...
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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 ...
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Coal block allocation: chronology of events; July 14, 1992. A number of coal blocks, which were not in the production plan of Coal India Ltd and the Singareni Collieries Company Limited (SCCL ...
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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
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2. INTRODUCTION • Coal allocation scam or Coalgate, 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 allocating coal blocks in an inefficient manner during ...
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Introduction Coal is the most important and abundant fossil fuel in India. It accounts for 55% of the country's energy needs. The country's industrial heritage was built upon indigenous coal. Commercial primary energy consumption in India has grown by about 700% in the last four decades.
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During the investigation process, Indian Police conducted raids across 10 cities to comprehend the misappropriation in the allocation of coalfields. Even government officials and toplevel officials of the involved companies are under scrutiny (Srinivas, 2012; India News Bulletin, 2012).
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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 ...
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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.
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Prime Minister Narendra Modi coal mining leases was finalised and approved by the government in February 2018. Since Coal India Limited's production is unable to meet the demand of noncaptive industry requirement of coal, there has been a surge in import of coal.
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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
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India has a significant history of coal dating back to 220 years, wherein the production, allocation and usage of coal started with introduction of locomotives.
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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
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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 ...
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India Resources, Power, Economy: Although India possesses a wide range of minerals and other natural resources, its per capita endowment of such critical resources as cultivable land, water, timber, and known petroleum reserves is relatively low. Nevertheless, the diversity of resources, especially of minerals, exceeds that of all but a few countries and gives India a distinct advantage in ...
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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.
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coal block allocation Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. coal block allocation Blogs, Comments and Archive News on ... Coal India's shares declined almost 5% following India's government's announcement to sell a 3% stake in the company through the offer for sale (OFS) route ...
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New Delhi: In a significant move towards coal sector reform, the ministry of coal has announced an amendment to the SHAKTI Policy (Scheme for Harnessing and Allocating Koyala (Coal) Transparently in India), allowing power plants, including private generators without Power Purchase Agreements (PPAs), to be granted coal linkage for a minimum of three months and up to a maximum of one year.
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Coal Allocation: The full story Coal mines in India are being opened for commercial mining for the very first time. While launching the auction process, the Prime Minister said coal mining will pave the way for development in the tribaldominated areas. But many experts believe that it will lead to natural calamities, displacement, and pollution
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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.
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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:
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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.
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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 ...
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[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.
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Though the CBI had filed a closure report in the coal block allocation case, a Delhi trial court said there was prima facie evidence to summon Singh who held the charge of the coal ministry at the ...
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