Economy
States to gain Rs.3.35 lakh crore on coal auctions

Till the conclusion of the auctions held so far, a revenue of nearly Rs.20 lakh crore has been generated

 

Citing the ongoing coal auctions as a "true example of federalism", union Coal Secretary Anil Swarup on Sunday said the states will be getting a whopping Rs.3.35 lakh crore on account of the coal auctions.
 
"Of the 67 (coal) blocks auctioned and allotted so far, the states will be getting Rs.3.35 lakh crore revenue and another Rs.69,000 crore will be unlocked by way of tariff benefit to the consumers," Swarup told media persons on the sidelines of an interactive event organised here by the Coal Consumers' Association of India.
 
Till the conclusion of the auctions held so far, a revenue of nearly Rs.20 lakh crore has been generated.
 
"This is a true example of federalism. The entire money generated from the auctions is going to the states while the union government is organising the auctions," he said.
 
Swarup said that although washeries are featuring in the list of possible bidders for the auction, they will soon be struck off in a forthcoming amendment to the coal bill.
 
Until now, 29 blocks have been auctioned and another 38 has been allotted to the state-owned entities.
 
"We will also allot mines to the individual states for commercial mining," he said.
 
Further, the coal department will allot Chhattisgarh and Odisha dedicated mines to meet their requirements for the sponge iron industry.
 
For the next round of auctions due in the third week of April, a total of 16 blocks will be put up for bidding of which 11 will be for the power sector and the remaining for the "non-regulated sector".

User

Smriti Irani spots CCTV directed at changing room

A First Information Report has been filed under sections 354 and 509 of IPC, Police Inspector Nilesh Rane said

 

Police are probing staffers of Fab India, a niche clothing boutique in a Goa village, for allegedly installing a CCTV that overlooks the store's changing room in which central minister Smriti Irani was trying out clothes on Friday, a police official said.
 
Police Inspector Nilesh Rane told IANS that Smriti Irani had visited the boutique in the north coastal village of Calangute, 20 km north of Panaji, and was trying out clothes when one of her assistants noticed the camera and raised a hue and cry.
 
A First Information Report has been filed under sections 354 and 509 of IPC, Rane said.
 
"The minister was in the store when one of her assistants informed her about the camera which was installed outside the changing room, but seemed to have a view of inside," Rane said.
 
He said the camera lens was aimed through the ventilator of the changing room of the Fab India store.
 
While Irani could not be contacted, BJP's Calangute legislator Michael Lobo, who was on the spot, said the ruling BJP-led alliance government was taking the matter seriously.
 
"I along with the police are scanning the store's hard disk right now. The camera is in a very mischievous place and there is footage of women changing clothes for the past three to four months," Lobo said.
 
The Congress, meanwhile, claimed that the 'changing room scandal' was Goa's best kept secret, especially in tourism-oriented coastal villages.
 
"Not just this boutique. All stores with such a facility must be investigated. A union minister can at least alert the authorities but most people cannot," Congress spokesperson Durgadas Kamat said.

User

Land ordinance re-promulgated

The ordinance which was set to lapse on Saturday had been promulgated on December 31 last year to amend the earlier act passed by the UPA in 201

 

President Pranab Mukherjee on Friday gave his assent to the re-promulgation of the land acquisition ordinance, official sources said.
 
The ordinance which was set to lapse on Saturday had been promulgated on December 31 last year to amend the earlier act passed by the UPA in 2013.
 
The union cabinet recommended re-promulgation of the ordinance on March 31 after the government failed to secure passage for it in the Rajya Sabha where the NDA is in minority.
 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)