INSUBCONTINENT EXCLUSIVE:
Coal Ministry is planning to seek surrender of undeveloped blocks and put them up for auctionThe Coal Ministry is mulling a plan where it
would enable entities holding dry fuel blocks, to surrender them if they are not in a position to establish them due to technical concerns
This will assist the government to fast track production from these surrendered reserves.This will be done by instantly putting up the given
up reserves on auction for industrial mining.In addition to this, companies holding coal blocks which they are not able to develop, will be
permitted to surrender them without paying any punitive damages after their proposals are scrutinised by a committee, the ministry has
said.As per its agenda for the present financial year (2021-22) released last week, the ministry said that the strategy will be prepared
soon.Apart from this policy, the Coal Ministry likewise plans to allow new allottees to offer up to half of the produced dry fuel, which
they are left with after fulfilling their captive requirements.This will help the ministry satisfy the growing need for coal from power
manufacturers throughout the nation, the ministry's program file said.Also this reward will encourage allottees to produce higher amount
of coal and offer it commercially.Total domestic coal production saw a limited fall of around two percent in 2020-21 as the output was 716
million tonnes, compared to 730 million tonnes produced in 2019-20, according to the ministry's information.
