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 ...
Posted On: 02 AUG 2021 3:51PM by PIB Delhi. Auction of coal mines is a continuous process. Success of auction process depends on the response received from bidders. Following policy measures have been undertaken for providing more flexibility to the prospective bidders: (i) Amendments have been made in the Coal Mines (Special Provisions) Act ...
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
June 2012: Coal ministry forms an interministerial panel to review the process of allocation of blocks and to decide either on deallocations or forfeiture of bank guarantees. The government has ...
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 ...
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.
As secretary of coal to the government of India over 200608, a period when several of the questioned allocations took place, he was directly implicated in the scandal.
Coal blocks: SC rejects private miners' plea. In its 27page order cancelling the allocation of 214 coal blocks on Wednesday, a threejudge Bench headed by Chief Justice of India Lodha ...
to allocate coal blocks by a process of competitive bidding, but chose not to. Windfall gain of rupees 185,591 crores (US Billion) FIRMS ELIGIBLE FOR A COAL ALLOCATION. Nationalisation of coal mining industry between 1972 and 1976. Coal. India. Limited (CIL) and. Singareni. Collieries. Company (SCCL) responsible for coal production
Timeline of events related to captive coal block allocation in India 2 Figure 2: Summary of cancelled coal blocks and proposed allocations 6 Figure 3: Enduse classification of coal blocks by ...
The government of India in the coal block case was questioned for going beyond their powers as given by the statutes which govern the coal and natural resources mining in India. The government wrongly took initiative of allocation of coal blocks without any auction. ... The whole process of allocation of coal blocks has been a huge example of ...
LONDON, Nov 30 (Reuters) India produced a record amount of electricity from coal in October to make up for a shortfall in hydro generation following lowerthannormal monsoon rains. Coal remains ...
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.
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 ...
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.
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 and private companies. In a draft report issued in March 2012, the Comptroller and Auditor General of India office accused the Government of India of allocating coal blocks in an inefficient manner during the ...
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 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 ...
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?
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 ...
However, the process would need further deliberations as residents of over 50 districts, across 13 states in India are reliant to a varying degree on the coalbased activities to earn a livelihood ...
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 ...
History Coal mine, Dhanbad India The Indira Gandhi administration of India nationalized coal mining in phases coking coal mines in 197172 and noncoking coal mines in 1973. With the enactment of the Coal Mines (Nationalization) Act, 1973, all coal mines in India were nationalized in May 1973.
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.
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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