Commercial mining of coal on revenue share basis: FM Sitharaman

By: |
May 16, 2020 4:57 PM

Coal gasification and liquefication will be incentivised through rebate in revenue sharing, she said adding coal bed methane (CBM) production would also be encouraged.

This is being done to reduce import of substitutable coal and increase self-reliance in coal production.This is being done to reduce import of substitutable coal and increase self-reliance in coal production.

Finance Minister Nirmala Sitharaman on Saturday announced commercial mining of coal by the private sector, ending government monopoly on the sector. In her fourth tranche of the economic package, she said commercial mining will be done on revenue sharing mechanism instead of the regime of fixed rupee/tonne.

Nearly 50 blocks will be offered for bidding, she said.

This is being done to reduce import of substitutable coal and increase self-reliance in coal production.

Also, the government will invest Rs 50,000 crore for building evacuation infrastructure.

Coal gasification and liquefication will be incentivised through rebate in revenue sharing, she said adding coal bed methane (CBM) production would also be encouraged.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1SpiceJet dues: Maran moves Delhi HC against non-payment of Rs 243 crore by Ajay Singh
2Bajaj Auto net profit dips 19% to Rs 1,138 crore in Q2
3Coastal power plants scale up coal imports, as freight, other imposts jack up local fuel prices