Ministry seeks more active role by state governments to address issues.
The allocations followed two stages.
The blocks are Kunur mine in West Bengal, Morga South A, Morga South B, Meguli mines and Phutamera in Chhattisgarh, Dahegaon Dhapewada and Kalambi Kalmeshwar blocks in Maharashtra, Karanpura Mahuamilan mine in Jharkhand.
Coal India Limited's (CIL) October-December quarter of financial year 2023-24 (Q3FY24) results have beaten the Street's estimates. Revenue rose 3 per cent year-on-year (Y-o-Y) to Rs 36,200 crore, led by higher volumes and better realisation from Fuel-Supply Agreement (FSA) coal. The blended average selling price (ASP) was down 6 per cent Y-o-Y to Rs 1,727 per tonne, and the FSA ASP was up 3 per cent Y-o-Y to Rs 1,532 per tonne.
Coal Ministry has slapped showcause notice on North of Arkhapal Srirampur coal block allocated to the project in Odisha.
The government may offload a maximum of 10 per cent of its stake in the state-run firm. Currently, its holdings in CIL stands at 100 per cent.
The Central Vigilance Commission has convened a meeting with Central Bureau of Investigation Director Ranjit Sinha to discuss the missing files with details of coal block allocations.
Coal India achieved a staggering production of 536.51 million tonnes during the financial year ended March 31, 2016
RINL, whose two coking coal blocks in Jharkhand -- Mahal allocated in 2005 and Tenughat-Jhirki allocated in 2008 -- were de-allocated by the Coal Ministry at the beginning of this month, had earlier requested permission to surrender these blocks in lieu of two alternative blocks in the region.
The company has already received the coal ministry's nod to reduce the face value of its shares to Rs 10 from Rs 1,000 at present.
In its draft report, the research agency has recommended linking the valuation of coal reserves to be put up for bidding to international prices.
Former Coal Secretary H C Gupta, who resigned as member of Competition Commission of India, was on Thursday questioned by the Central Bureau of Investigation in connection with coal blocks allocation from 2006 to 2009 during his tenure.
The Central Bureau of Investigation is likely to inform the Supreme Court that it has received all the relevant files related to coal block allocation scam and might recommend closure of preliminary enquiries in this regard.
PSU, other govt bodies told to explain delay on developing the concessions for years.
As Indian Railways looks to avert the crisis like last summer, preparations are under way to stock up coal at thermal power plants. Much like February and March, thermal coal movement in April was 5 per cent higher than the previous year, data from the Ministry of Railways shows. While India prepares for a hot summer this year, 48.23 million tonnes (mt) of coal for thermal power plants was ferried by Indian Railways in April. The national transporter also moved about 500,000 tonnes--18.4 per cent-- more imported coal for power plants this April than it had done last year.
Says Coal India is ready to sign at 80% trigger level, with 15% imported coal on cost-plus model.
In one of the first steps towards coal block re-allocation, the government has finalised the methodology to calculate coal price for e-auction and a Cabinet proposal on this is likely to be floated in a fortnight.
Ray of hope for power, metal companies.
India's exports grew marginally by 0.7 per cent to $41.97 billion in March, while the trade deficit stood at $21.54 billion in the month, the latest government data showed on Tuesday.
Former Union Minister and senior BJP leader Bandaru Dattatreya on Sunday said Prime Minister Manmohan Singh should take 'moral responsibility' for wrongful loss to exchequer due to the coal scam.
A direction is this regard was given on Wednesday after Finance Minister P Chidambaram and Coal Minister Sriprakash Jaiswal met in the presence of the secretaries of the Department of Economic Affairs and Coal Ministry
The official said there are both challenges and opportunities for India as many of its competitor countries in exports, such as China Vietnam, Bangladesh, Cambodia and Thailand, face higher duties.
In a bid to diversify its portfolio, the state-owned National Thermal Power Corporation proposes to foray into new areas, including coal mining and coal washeries, through the joint venture route where it would hold minority stake.
CAG audit is likely to be completed in six months.
Amid the low stock position at the electricity generating plants, state-owned CIL has asked its subsidiaries to refrain from conducting any further e-auction of coal, except special forward e-auction for the power sector, till the situation stabilises. The development assumes significance as the supply of coal is being prioritised to the power sector to replenish the dwindling stock in the wake of reports of an electricity crisis looming large. "In view of the current low stock position at the powerhouse end, supply of coal is being prioritised to the power sector to replenish the dwindling stock...coal companies are advised to refrain from conducting of any further e-auctions of coal with the exception of special forward e-auction for the power sector, till the situation stabilises," Coal India said in a recent letter to its arms, including Eastern Coalfields Ltd (ECL), Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd (CCL).
The central government has admitted before the Supreme Court that 189 out of the 236 documents sought by the Central Bureau of Investigation, which is probing coal block allocation scam, is "not-available".
Here is a list of Q & As to explain these issues and implications of the US move.
Minster of State in the Prime Minister's Office V Narayansami today said Centre is examining demands for including coal block allocations made during national Democratic Alliance rule within purview of Central Buerau of Investigation probe.
Coal production by Coal India (CIL) has grown slower than the captive mines, awarded over the last six years. During 2020-22, production from the captive mines jumped by 38.5 per cent while CIL saw a tepid growth of 3.4 per cent, according to government data. In terms of dispatch to the power sector, captive mines have raced ahead, witnessing a growth of 72 per cent compared to 15 per cent for CIL. For the current fiscal year, CIL's production is expected to be around 565 million tonnes.
The Central Bureau of Investigation has recorded statements of the then ministers of state in the coal ministry Santosh Bagrodia and Dasari Narayan Rao in connection with the coal block allocation scam.
NRW is one of the leading providers of construction and mining services with a turnover $1.35 billion in 2011-12.
So far, CBI's investigations into the coal scam are highly superficial and limited to small fishes. It is unlikely to go deeper in the political connections, a source tells rediff.com
The Union ministry of coal, while acknowledging that domestic coal stock is not enough to meet the power demand, asked state governments and the power generating companies (gencos) to import coal before monsoon season sets in. The ministry has warned the gencos if they do not import coal for 10 per cent blending in their fuel demand by the end of this month, blending benchmark would be increased to 15 per cent. The order pertains to all - central, state and independent power producers (IPPs)/privately owned units.
Former minister of state for coal Dasari Narayan Rao, an accused in Jharkhand's Amarkonda Murgadangal coal block allocation scam case, on Tuesday said that decisions to allocate coal blocks were taken by then Prime Minister Manmohan Singh, who was also heading the coal ministry at that time.
Making a stinging criticism of the Central Bureau of Investigation and senior officials of the coal ministry and the Prime Minister's Office, the Supreme Court on Wednesday hauled them up for changing the "heart" of the coal-gate probe report but appeared to have given a breather for Law Minister Ashwani Kumar and the government for the time being.
Having set an ambitious target for capacity addition, the power ministry on Monday sought to push ahead with the agenda seeking regulators for coal and petroleum sectors even as it criticised public sector power companies
According to coal ministry officials, the Bill is likely to be introduced in the Lok Sabha on Wednesday. The Coal Mines (Special Provisions) Ordinance, 2014 was brought in October this year in the wake of the Supreme Court's decision cancelling 214 coal blocks.
Law Minister Ashwani Kumar's fate hung in balance as the Supreme Court takes on record on Tuesday CBI Director's affidavit and the agency's status report on the coal blocks allocation scam that was shared with the minister and senior officials of PMO and Coal ministry.
India and the US have decided to hold sector-specific talks in the coming weeks to finalise the structure of the proposed bilateral trade agreement (BTA), the government said on Saturday. The engagement between the two countries came in the backdrop of the USA's threat to impose reciprocal tariffs on its key trading partners, including India, on April 2.
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