States to Develop with Coal Auction

New Delhi Feb 20: The Union cabinet under the chairmanship of PM Modi has taken a key decision today. The Cabinet has approved the auction of coal blocks for private players for commercial purposes.

Railway Minister Piyush Goyal has said that "the Revenue generated from the Auction would benefit the states as the Revenue generated from the auctions would be going to the states and not even single rupee would be collected by the center".

He added that "The royalty fees would also be collected by states and West Bengal, Odisha, Jharkhand, Chhattisgarh, and Madhya Pradesh where coal is available in large quantities would be benefitted ".

He has also said that with commercial auctions the import of coal would be reduced in India and the prices of power would be reduced.