Categories: MinesOdisha

Coal Ministry Transfers Mine Auction Money To States, Odisha Gets Rs 199.81 Crore

Bhubaneswar: The Ministry of Coal has transferred Rs 704 crore upfront amount received from auction of coal mines to six coal bearing states – Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha and West Bengal.

Odisha has received around Rs 199.81 crore transferred by the Centre, official sources said on Thursday.

This financial transfer marks a substantial initiative to empower and support developmental growth of these states.

The allotted amount of Rs 704 crores represents the first instalment of upfront amount for 18 coal mines that were successfully auctioned under 6th round and 2nd attempt of 5th round of commercial coal mine auctions. Next three instalments are to be given directly to the states by bidders.

State-wise details of amount transferred is as below:

Reform of Coal Mine Development and Production Agreement (CMDPA) paved the way for this significant development. As per the CMDPA, successful bidders have submitted the first instalment of the upfront amount to the Ministry of Coal.

Notably, the remaining three installments will be directly submitted by the bidders to the respective state governments, further amplifying their contribution to the development of these states.

This substantial financial infusion will be utilized by state governments to fuel development in their regions. It will enable strategic investments in infrastructure development, educational facilities, healthcare services and various welfare initiatives, uplifting communities and fostering overall growth.

Since the inception of commercial coal mining, the coal sector has been significantly contributing revenue to the state governments. Moreover, once the coal mines become operational, they will also contribute to the states’ prosperity through royalties and monthly premiums. The revenue generated from these mines could be channelled by the states to strengthen their financial capacity for essential welfare programs, uplift marginalized communities, and support other key development projects.

OB Bureau

Recent Posts

Vigilance Apprehends Jr Clerk Of Govt Office While Taking Rs 20,000 Bribe In Bhubneswar

Bhubaneswar: Vigilance on Monday apprehended a junior clerk of state government while taking a bribe…

24 minutes ago

Golden Globes 2025: 2 Nominations For Payal Kapadia’s ‘All We Imagine As Light’

Mumbai: Payal Kapadia’s ‘All We Imagine As Light’ has made waves in India and abroad.…

29 minutes ago

I Had To Sit At Home As I Was Getting Terrible Movie Offers: Dino Morea

Mumbai: Actor Dino Morea, who celebrated his 49th birthday on Monday, is returning to the…

49 minutes ago

Folk Art Fest ‘Mahuri Mahotsav’ Brings 200 Artists On One Stage In Odisha’s Berhampur

Berhampur: The two-day ‘Mahuri Mahotsav' that captivated the audience with a range of traditional folk…

59 minutes ago

Junior National Athletics: Odisha’s Sabita Toppo & Astik Pradhan Claim Silver Medals At Kalinga Stadium

Bhubaneswar: Odisha athletes bagged a couple of silver medals in the 39th National Junior Athletics…

1 hour ago

Police Find Over Rs 25 Lakh From Lady Drug Peddler’s House In Odisha’s Bhadrak

Bhadrak: Police have found more than Rs 25 lakh during a raid on the house…

2 hours ago

This website uses cookies.