(New Delhi) FM Announces Commercial Mining of Coal
Finance Minister Nirmala Sitharaman on Saturday announced commercial mining of coal by the private sector, ending government monopoly on the sector.
In her fourth tranche of the economic package, FM said commercial mining will be done on revenue sharing mechanism instead of the regime of fixed rupee/tonne.
Nearly 50 blocks will be offered for bidding
This is being done to reduce import of substitutable coal and increase self-reliance in coal production.
Also, the government will invest Rs 50,000 crore for building evacuation infrastructure.
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