Generally, the sensex has a strong nose. Last year, at this time, it had kissed 21,000 and was shying away from maintaining a perch there. The hesitation in breaching the peak was the result of the conditioning created by a government that had stepped
The government may consider auctioning eight coal mines that are located in Chhattisgarh, West Bengal, Jharkhand and Maharashtra. This development has taken place at a time when the Supreme Court has held that all coal blocks since 1993 have been allocated illegally, bringing uncertainty to the fate of 218 block allocations.
The coal ministry has decided to de-allocate a total of 14 coal blocks from companies such as National Thermal Power Corporation and Damodar Valley Corporation (DVC).This is being done due to the delay in developing the captive coal blocks allocated to these firms.
The central government will consider competitive bidding for coal blocks, but only after allocating blocks to state-run CIL and the state governments. There are no plans to stop e-auctions of coal as those who did not get coal from CIL, got it through this process.
In response to alleged malpractices, the union government maintained that coal blocks were allocated in a transparent manner with the consent of the states with coal resources, who were involved in the allotment process.
NTPC is shortly expecting a decision on coal mine allocations that were cancelled by the coal ministry recently.Citing NTPC's failure to develop the fields as a reason, the coal ministry had, in May, cancelled five coal blocks allocated to the power major.
The union government received a request from Neyveli Lignite (NLC) to allocate three coal blocks that were recently withdrawn from NTPC.The three blocks in Jharkhand-Chatti-Bariatu, Chatti-Bariatu (South) and Kerandari hold 836 mn tonne of reserves that can feed all the proposed coal-based power projects of Neyveli lignite.