By PTI May 20, 2020 6:32:10 PM IST (Published)
The government on Wednesday approved a methodology for commercial mining of coal on revenue sharing basis. The decision was taken during the meeting of the Cabinet Committee on Economic Affairs (CCEA) under the chairmanship of Prime Minister Narendra Modi.
The government on Wednesday approved a methodology for commercial mining of coal on revenue sharing basis. The decision was taken during the meeting of the Cabinet Committee on Economic Affairs (CCEA) under the chairmanship of Prime Minister Narendra Modi.
The CCEA "has approved the methodology for auction of coal and lignite mines/blocks for sale of coal/lignite on revenue sharing basis and increasing the tenure of coking coal linkage", an official release said.
Finance Minister Nirmala Sitharaman while announcing financial package last week said that coal mines would be auctioned to the private sector for commercial mining to end reliance on imports and improve local production.