Coal secretary announced move that can help discover market-determined prices
GN Bureau | June 22, 2016
For the first time, the coal ministry expects to discover market-determined prices for coal after it allots 16 coal mines to state government-run companies for commercial mining.
The allotments will be made by September and production is expected to start in a year or two after that, the Hindu Business Line has reported.
There will be no restriction on where the coal is sold from these mines and the prices at which it is sold, coal secretary Anil Swarup said on June 20.
“There will no restriction on pricing from our end. We hope this will lead to discovery of market-determined pricing of coal for the first time in the country. Right now Coal India is determining the price. With another entity coming in, some sort of a market will be created and price discovery will happen,” Swarup was quoted as saying. He expected the move to benefit small and medium enterprises.
Out of the 16 mines identified for commercial coal mining by state government-owned companies, eight will be given to the host state and eight will be available for public sector companies of other states. The host states for which eight mines have been reserved are Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Telangana and West Bengal.
The 16 mines have geological reserves of 2.137 billion tonnes and are expected to add an additional 40 million tonnes of annual coal production in India.
Read the report here
History could have repeated itself as a farce, but in the triple talaq case today, there has been no replay. A historic blunder has been undone, though it has taken three decades. The supreme court has once again taken a stance in favour of individual freedom and against fundamentalism &nda
The derailment of Puri-Haridwar Kalinga Utkal express at Khatauli has once again raised serious questions on the railways’ safety claims. At least 21 people were killed and many were injured. The derailments over a period of a few months are giving sleepless nights to the top railway.
The BJP as well as the Congress welcomed the supreme court judgment that bars instant triple talaq for a period of six months and also seeks a legislation on it. BJP chief Amit Shah said that he welcomes this on behalf of the party and added “it’s not about anyo
Five judges from five different faiths deliberated upon and decided that instant triple talaq is to be struck down for a period of six months and the government should bring a legislation over it. The supreme court bench was headed by chief justice of India J S Khehar, who
Rural Electrification Corporation Limited (REC) and Power Finance Corporation Limited (PFC) did not conduct appropriate due diligence during credit appraisal in power generation projects and in the process assumed higher risks on the loan accounts, noted the Comptroller and Auditor General (CAG) in a rep
Prime minister Narendra Modi described as “historic” the supreme court judgment that struck down triple talaq for a period of six months. “Judgment of the Hon`ble SC on Triple Talaq is historic. It grants equality to Muslim women and is a powerful measure