India is expected to cut imports by a fifth in the fiscal year.
Parliament has cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, recently. The objective of the Act is to invite investments from the private sector, including foreign companies, for mining minerals such as lithium and other critical minerals. Other than lithium, some of these minerals were classified as atomic minerals, including beryl and beryllium, niobium, titanium, tantalum and zirconium.
The 17 related ministries have been combined into seven different groups, including some infrastructure departments, in a bid to ensure synergy and better results.
The Supreme Court is expected to deliver its final verdict on coal mine allocations later this week.
According to latest data (October 13) by the Central Electricity Authority, total fuel stocks at 103 coal-based stations have come down to 7.2 million tonnes.
The government on Wednesday expressed disappointment over a French company snapping up Mahatma Gandhi's Johannesburg house, through Sotheby's auction firm, but said it will continue efforts to acquire the heritage property through a public sector company."The matter concerns national sentiment and I will leave no stone unturned to acquire the historic property and declare it a national monument," said Union Coal Minister Sriprakash Jaiswal.
The recommendation, if implemented, could severely dent coal miners' bottom line.
The mines ministry has sought Prime Minister Manmohan Singh's intervention in bailing out aluminium giant Nalco of the acute paucity of coal, which has forced the PSU to close down two of its captive power plants.
The agency said files of the case were sent to competent authority.
Stressing the need for coal sector reforms, the presentation said, "Independent regulation of coal sector becomes essential to ensure that e-auction remains competitive, to fix formulae for price revision for long-term fuel supply, to fix trading margins and to improve exploitation and allocation of available resources.
There is a strong hint that the proposed IPO will be of 11 per cent instead of the earlier plan of 15 per cent (10 per cent public, 2 per cent employees and 3 per cent land losers).
Of these, 14 have received environmental clearances and four forestry clearances.
The Bharatiya Janata Party on Monday demanded the resignation of Law Minister Ashwani Kumar over allegations of government's interference in CBI's probe into coal blocks and suggested that the Supreme Court should appoint a Special Investigation Team to bring out the truth.
in the first lot 74 blocks will be auctioned, but the number of mines a company can bid will be capped to avoid monopoly.
Reliance Capital Asset Management Company (RCAM) and ICICI Securities Primary Dealership have been selected to manage Rs 60,000 crore (Rs 600 billion) provident fund corpus of coal industry workers.
Public-sector enterprise stocks have seen a good run thus far in 2023-24 (FY24), with the S&P BSE PSU Index surging by over 26 per cent during the period, compared to an 11 per cent increase in the benchmark S&P BSE Sensex.
The Enforcement Directorate to take a "conclusive action" towards attachment of assets of those involved in coal scam.
Major corporates are staring at an uncertain future after investing substantially on their projects
The government on Friday said that some of the coal blocks lying in the "no-go" areas, which could not be used for mining, may be shifted to the go-areas, a move to expedite clearance for ultra mega power projects.
The government has threatened to cancel the coal block alloted jointly to ArcelorMittal and GVK Power in Jharkhand for the inordinate delay in developing the property.
Coal Secretary Anil Swarup has been appointed as school education secretary.
In an urgent need for its image makeover, the scam-tainted coal sector will require mammoth efforts in 2015 from the government and the corporates too.
Govt went against its own recommendation of Jun 20, 2007, where along with the 2 Jindal companies, it wanted 40% coal block to go to Lanco.
National Aluminium Company had said on Friday that its power units, capable of generating 960 MW, had to be shut down owing to serious coal crisis.
Trade unions on Tuesday began a five-day coal industry strike, terming it as the biggest industrial action for any sector since 1977.
The Centre has completed asset monetisation worth Rs 96,000 crore during FY22, surpassing the target of Rs 88,000 crore. For FY23, it has set itself a goal of Rs 1.62 trillion, and already has a pipeline of assets worth Rs 1.6 trillion under advanced stages of implementation, an official said. Union Finance Minister Nirmala Sitharaman on Tuesday reviewed the progress made by several ministries and nudged departments to achieve the targets set for them, the official added.
Gautam Adani, promoter of Adani Power Ltd, has a reason to relax, even as the power arm of his group of companies continues to make losses for an eighth straight quarter.
Area residents and environmental groups have resisted the coal power plant ever since it was originally proposed in 2006 due to worries about land clearance and pollution
To increase gas availability for power plants, the Ministry of Petroleum and Natural Gas has taken various steps.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
The Cabinet Committee on Economic Affairs on Wednesday approved seven multi-tracking projects of Indian Railways at an estimated cost of around Rs 32,500 crore, Union minister Ashwini Vaishnaw said. The proposed projects, which will be fully funded by the Centre, will help increase the existing line capacity, smoothen train operations, reduce congestion and facilitate ease of travelling and transportation. The projects covering 35 districts in nine states -- Uttar Pradesh, Bihar, Telangana, Andhra Pradesh, Maharashtra, Gujarat, Odisha, Jharkhand and West Bengal -- will increase the existing network of Indian Railways by 2,339 km and provide employment of an estimated 7.06 crore man-days to the people of the states.
In partnership with different US firms, two companies belonging to Reliance Anil Dhirubhai Ambani Group (ADAG) have submitted competing bids for a single project floated by the Ministry of Coal.
The Centre received 5.59 lakh public grievances against various government departments in the first half of this year, with the Department of Financial Services (DFS) getting most of such complaints, according to an official report.
100-day agenda: Commerce ministry pushes for separate logistics department
Rejecting the plea, the court said the application was "vexatious" and it was apparently moved to delay the trial.
Noticing irregularities in coking coal purchases, the Steel Ministry has set up a committee to look into the rationale behind PSUs buying more of the commodity when it is expensive, and less of it when cheaper.
Former Coal Secretary P C Parakh, who was named by the Central Bureau of Investigation in a first information report on a coal block allocated to Hindalco, had joined three private firms after retirement, raising questions over his role in one of the companies that's now under the scanner after getting a block.
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