Govt. plans to auction over 100 mineral blocks in six months

Centre will earn Rs. 1.81 lakh crore from the 50 blocks auctioned since 2015 Having secured Rs. 1.81 lakh crore in its kitty from e-auction of 50 mineral blocks, the government is looking to put on block another 100 mines in the next six months, according to the Ministry of Mines. The government, so far, has auctioned 50 mines, including 23 limestone, 17 iron ore, 4 gold, 2 each of manganese and graphite blocks and one bauxite and diamond block each. There are 102 blocks in the pipeline to be auctioned by March in Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Telangana and Assam, as per a report by the Ministry of Mines on progress of block auction. As per the report, Jharkhand will auction the highest 20 blocks followed by Rajasthan (16) and Madhya Pradesh (13) and Maharashtra (13). Of these 102, the government plans to auction two limestone blocks in October. Of the two blocks, one is in Andhra Pradesh and the other is in Gujarat. The Chintalayapalle-Abdullapuram-Korumanipalli (CAK) limestone block in Andhra Pradesh with reserves of 104.68 million tonnes (MT) will be auctioned on October 12. The Bhatvadiya block in Gujarat with reserves of 477.2 MT will go under the hammer on October 17.
Push to auctions
The Centre had earlier said it was considering granting all approvals, including environmental clearance, to the mineral blocks before putting them up for sale. From the 50 mineral blocks auctioned so far since 2015, the government will earn a revenue of Rs. 1.81 lakh crore over the lease period.
Source :

About sree nivas

Check Also

green bond

Green Bond

Concept Green bonds have emerged as a financial instrument aimed at channeling investments into environmentally …

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Free Updates to Crack the Exam!
Subscribe to our Newsletter for free daily updates