Allottees Will Be Able To Return The Coal Block
Allottees will be able to return the coal block, the coal ministry is preparing a plan.
The Coal Ministry is preparing to come out with a plan to surrender or return the coal block.
Under this, allottees who are not in a position to develop coal mines due to technical reasons will be allowed to surrender the mines.
As per the 2021-22 agenda of the Ministry of Coal, the proposal to surrender the mine will be reviewed by the Screening Committee under the proposed plan.
Thereafter the coal blocks will be allowed to be returned without financial penalty.
Agenda 2021-22 prepared by the Ministry of Coal said a plan is being prepared to increase production and ease of doing business from the allotted coal block.
Under which those allottees will be allowed to surrender the blocks, who are unable to surrender their blocks due to technical reasons, are not in a position to develop.
Blocks returned under this scheme will be immediately offered for auction to commercial mining. Due to this, production will be started immediately from there.
This move will help in increasing the production from the coal mines allotted through the auction route.
To meet the growing demand for coal in the country, a scheme is being chalked out under which allottees will be allowed to sell up to 50 percent of the production after meeting their own captive requirement.
Allottees will be able to return the coal block: This step will encourage the allottees to produce more and they will be able to sell more coal in the market.
In the last financial year, the country’s coal production declined by 2.02 percent to 71.60 million tonnes. This information has been given in the provisional data of the Ministry of Coal.
In the previous financial year 2020-21, coal production stood at 73.08 million tonnes.
The share of non-coking coal in the total coal production was 6712 million tonnes and that of coking coal was 44.7 million tonnes.
Of this, the production of the public sector was 68.59 million tonnes and that of the private sector was 30.1 million tonnes.
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