1. Home >
  2. Export Import News >
  3. Import News >
  4. Govt to stop substitutable coal import; can go for auction of 100 fully explored new blocks: Joshi >
  5. Govt to stop substitutable coal import; can go for auction of 100 fully explored new blocks: Joshi

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Govt to stop substitutable coal import; can go for auction of 100 fully explored new blocks: Joshi.

Date: 20-01-2020
Subject: Govt to stop substitutable coal import; can go for auction of 100 fully explored new blocks: Joshi
Union minister Pralhad Joshi on Sunday said the Centre will stop the "substitutable import" of coal in the next three to four years and can go for auction of 100 fully explored blocks.

The statement assumes significance in view of recent developments in the sector where the government recently brought an ordinance to amend laws to open up coal mining to firms other than those in the steel and power sectors, removing restrictions on end-use of the fuel.

Terming the promulgation of the ordinance as "one of the major reforms", the coal minister in an interview to PTI said that "whatever the substitutable shortfall is there...we want to achieve it in the coming three-four years. That may be around 2023-24. We want to stop the substitutable import of the coal".

The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act 1957 and Coal Mines (Special Provisions) Act 2015.

"In between also there were some other problems. CMSP Act, end-user restriction. So many things were there. All these things we have removed now," the minister explained.

Stating that promulgation of the Ordinance has been welcomed by the sector, he said the government is seeking comments on draft rules for coal mines auction which is in the public domain.

"Now question is about framing rules and that we have kept it in public domain...We want to make it investor friendly... After this formation of rules and after all these things, we want to market in a such way in the world that now things have become easy...you come and do the business," the minister added.

"I can say today as on date around 100 new greenfield blocks fully explored coal blocks are with us. Fully explored blocks 100 greenfield blocks are with us now. That we can go for auction immediately," the minister said adding that the sale of the blocks will be in a phased manner.

When asked about the number of blocks that would go under the hammer in the first phase, he said, "That I can't say right now as that is yet to be discussed, deliberated."

According to industry thinkers, the recent move in the coal sector is likely to create an efficient energy market and bring in more competition as well as reduce coal imports.

However, the move will put an end to Coal India's monopoly in the sector.

Allaying the fears in this regard, the minister said, "We are pushing and trying to strengthen Coal India so that they achieve their target (one billion tonnes) by 2023-24...We want that Coal India should do its job, do its job well...Remaining whatever is the gap of 400-500 million tonnes that will be taken care of by private people."

Coal India accounts for over 80 per cent of domestic coal output.

India imported 235.2 million tonnes of coal in 2018-19 valued at Rs 1.7 lakh crore, Joshi had earlier said.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 22-05-2020
Notification No. 47/2020-CUSTOMS (N.T.)
Appointment of CAA in case of in case of M/s Satnam Steels, Rajkot.

Date: 22-05-2020
PUBLIC NOTICE No. 06/2015-2020
Inclusion of Gopalpur Port, Odisha as a Port of Registration under Para 4.37 of Handbook of Procedures, 2015-2020.

Date: 22-05-2020
TRADE NOTICE NO. 12/2020-2021
Issuance of Preferential Certificate of Origin for India’s exports to Thailand and Vietnam under ASEAN-India FTA

Date: 21-05-2020
Notification No. 24/2020 - Customs
Seeks to amend notification No. 56/2000-Customs dated 05.05.2000, No. 57/2000-Customs dated 08.05.2000 and No. 40/2015-Customs dated 21.07.2015 providing for extension of last date of export by six months, for those cases where the last date of export falls between 01.2.2020 and 31.7.2020 due to the outbreak of COVID-19 pandemic.

Date: 21-05-2020
Notification No. 25/2020 - Customs
Inclusion of Gopalpur Port [INGPR1] as notified port for getting benefits under AA/ EPCG schemes and other export incentive schemes like MEIS/SEIS and other such schemes.

Date: 21-05-2020
Notification No.46/2020 - Customs (N.T.)
Exchange Rates Notification No.46/2020-Custom (NT) dated 21.05.2020.

Date: 20-05-2020
Instruction No. 06/2020-Customs
Instruction Number 06 - Customs on Requirement of Veterinary Certificate

Date: 19-05-2020
Notification No. 45/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 19-05-2020
Notification No. 08/2020-Customs (ADD)
Seeks to impose anti-dumping duty on import of Sodium citrate originating in or exported from China PR for a period of further 5 years.

Date: 18-05-2020
A.P.(DIR Series) Circular No.31
Risk Management and Inter-bank Dealings – Hedging of Foreign Exchange Risk-Date of Implementation

Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001