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

Farmers’ Delhi March Stopped Again For ‘Moving Ahead As Mob’; 5 Injured In Tear Gas Shelling

New Delhi: Multilayered barricading greeted 'jatha' (group) of 101 farmers as it resumed the march…

1 minute ago

Odisha CM To Visit Bargarh Again For Dhanu Yatra & Madho Singh Shahid Divas

Bargarh: Odisha Chief Minister Mohan Charan Majhi on Sunday announced that he will visit Bargarh…

18 minutes ago

BJD Regime Was ‘Anti-Farmer’: Says Odisha CM As He Distributes Rs 800 Extra Per Quintal Of Paddy

Bargarh: Odisha Chief Minister Mohan Charan Majhi on Sunday disbursed additional input assistance to the…

54 minutes ago

‘Attack Dog Behaviour’: Shashi Tharoor Slams BJP As US Rejects ‘Destabilising India’ Claims

New Delhi: A day after United States rejected BJP's claims of backing an agenda to…

1 hour ago

Locals Clash With Cops At Police Station In Odisha’s Balangir

Balangir: Tension prevailed in and around Tusura police station in Odisha’s Balangir district following a…

2 hours ago

3 Arrested On Tender Fixing Charges After CBI’s Surprise Raid In Bhubaneswar

Bhubaneswar: The CBI on Sunday arrested three persons on financial irregularities and tender fixing charges,…

2 hours ago

This website uses cookies.