Eastern states eye Rs 1,280 cr as coal auction proceeds

Eastern states eye Rs 1,280 cr as coal auction proceeds

Coal-rich eastern states are in for a bonanza as they will get close to Rs 1,280 crore from the latest round of coal auction by this month-end, with Rs 650 crore already transferred to their kitty. The last three rounds have generated proceeds of more than Rs 3 lakh crore, which would be realised over 30 years by eastern states like Jharkhand, Chhattisgarh, Odisha, West Bengal, in addition to Maharashtra and Madhya Pradesh, where these mines are located.

"As provided in the Act, the proceeds of coal block auctions will go to states. We have already transferred Rs 650 crore to states and another Rs 630 crore will go to them by the end of the month," Vivek Bhardwaj, the nominated authority to conduct coal block auction, told.

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