Centre eases rules for auction of coal blocks

Centre eases rules for auction of coal blocks

Having failed to attract any bidders in the last three years for coal blocks, the NDA government — keen to attract greater participation from the private sector — has now tweaked the process wherein the time period for seeking clearances by allottees and commencing operations in the blocks has been increased to 66 months from 44.

The easing of norms has been done as sources privy to developments said that the coal ministry has now made preparations to put up 18 blocks for auction — which would be the sixth round of bidding.

While in 2015-16 it had managed to auction and allot 84 blocks in three rounds, the fourth and fifth rounds were resounding flops and had to be annulled as no bidders showed up for the 15 blocks in total which had been put up for auction under them. Read More

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