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PM Modi launches auction of 41 coal mines for commercial mining, says it will bring jobs and development to tribal belt in central and eastern India

The coal mines are located in the states of Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, and Odisha. The auction process will be a two-stage tender process with technical and financial bidding.

On Tuesday, Prime Minister Narendra Modi addressed the nation on the event to launch the auction of 41 Coal mines for commercial mining. PM Modi said that the country will overcome the COVID-19 crisis and will convert it into an opportunity to boost the motive of self-reliance and reduce its dependence on others. The coal ministry in association with FICCI launched the auction of these coal mines.

PM Modi said while addressing the nation through video conference, “India will turn this COVID-19 crisis into an opportunity. It has taught India to be self-reliant. India will reduce its dependence on imports. To make India self-reliant in the energy sector, a major step is being taken today.”

He added, “We are not just launching the auction for commercial coal-mining today, but bringing the coal sector out of decades of lockdown.” Prime Minister emphasized that despite having the world’s fourth-largest coal reserves and second-largest producer Indian does not export coal but imports and also is the second-largest importer of coal in the world.

PM Modi said that each sector and each product, each service, should be kept in mind and worked holistically, to make India self-reliant in a particular area. PM Modi stressed that today’s event will generate employment for lakhs of youth in the country. He also noted that today we are not only launching the auction of commercial coal mining today but also freeing the coal sector from decades of lockdown.

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The Prime Minister said that these coal sector reforms will make eastern and central India, our tribal belt, into pillars of development. He added that These areas have a big number of Aspirational Districts and have not been able to reach the desired level of progress and prosperity. He said that 16 aspirational districts in the country have a huge stock of coal but people of these areas have not got adequate benefit of this. People from these places have to migrate to far-flung cities for employment.

50 thousand crore rupees on creating an infrastructure for coal extraction and transportation

He further added that the steps taken towards commercial mining will be very helpful to eastern and central India by providing the local population with employment. He informed that the Government has taken a decision to spend Rs 50 thousand crore on creating an infrastructure for coal extraction and transportation, which will also create employment opportunities.

In this auction process, 41 coal mines are on offer which includes fully explored and partially explored mines. These include 4 coking coal mines which are fully explored mines. These coal mines are located in the states of Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, and Odisha. The auction process will be a two-stage tender process with technical and financial bidding.

Production of all mines has registered a quantum jump in the last year: Union Minister Prahlad Joshi

Union Coal and Mining minister Prahlad Joshi said that coal sector is committed to massive capital expenditure and employment plan for coal bearing regions. The production of all mines has registered a quantum jump in last 6 years. He emphasized that the laws and auction methodology for commercial mining have been framed with thorough stakeholder involvement. He added that blocks to be offered have been identified through public consultation. The Minister said that this is the best time for private companies to enter the mining sector.

President of FICCI, Dr Sangeeta Reddy said, “Commercial mining of coal launched by Hon’ble PM today, will help meet the country’s energy needs, reduce dependence on imports, modernise the sector and generate jobs. This landmark reform will unlock country’s natural resources, stimulate the economy and catalyze India’s path to a 5-trillion dollar economy. FICCI is happy to be the industry partner at the launch of this major initiative.”

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