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8220Extra revenue through coal production will be used for public welfare schemes8221 in those regions he added.Get A Quote
8220Extra revenue through coal production will be used for public welfare schemes8221 in those regions, he added.
8220People of these districts are aspiring for development but have lagged behind,8221 he said, adding 16 districts in these areas had 8220huge stocks of coal8221 but people had not been able to benefit from this mineral wealth.
However the move threatens valuable forests and indigenous land rights, while expanding a polluting and financially challenged industry.
Jun 18, 2020nbsp018332The 41 coal mines, up for auction, will require an investment of around 33,000 crore.The mines are expected to hit peak production of 225 million tonne and will account for 15 of Indias ...
Modi said commercial mining would reduce the need for people to migrate far from their homes to seek employment, giving people jobs extracting and transporting coal. He said the country would spent 6.5bn on new coal infrastructure.
Prime Minister Modi says private coal mining will boost India8217s energy security, despite expert warnings of stranded assets and indigenous rights violations
Prime Minister Narendra Modi launched the auction of 41 coal mining blocks to private companies on Thursday, in a major shake-up to the sector which is dominated by state-controlled Coal India. Modi said the move would help reduce India8217s reliance on energy imports and develop the eastern and central parts of the country.
The auction has been described as a 8220desperate8221 move by the government to boost investments in the coal sector despite its declining future.
The Indian government is opening coal mining to private investment in the hope of creating hundreds of thousands of jobs, following an economic slump triggered by the coronavirus pandemic.
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