₹33,000 crore, with the auctions serving as a template for allocation of domestic natural resources.There will be no restriction on the sale and utilisation of coal from these mines.
Earlier, blocks were awarded on a fixed payment per tonne basis which the government believed was impeding production.According to the coal ministry, these 41 mines are expected to hit peak production of 225 million tonne (mt) and will account for around 15% of India’s total coal production in 2025-26.
Commercial mining will add ₹20,000 crore annually to the state governments’ revenue. Also, the implementation of a National Coal Index will help India move towards a free market structure for coal.Speaking at the launch of coal mines auction, Modi said India.