New Delhi: Prime Minister Narendra Modi launched the auction process of 41 coal blocks for commercial mining through video conference from here today.
It was part of the series of announcements made by the Government of India, under the AatmaNirbhar Bharat Abhiyan, said a statement issued by the PMO.
The Coal Ministry in association with FICCI launched the process for auction of these coal mines. A two stage electronic auction process is being adopted for allocation of the coal mines.
Speaking on the occasion, Modi said that India will overcome the COVID -19 Pandemic and the nation will turn this crisis into an opportunity.
“The auction today is taking place at a time when business activity in India is normalizing rapidly. Consumption and demand is rapidly approaching the pre-COVID level. In such a situation, there cannot be a better time for a new beginning,” he said.
The launch of the auction process not only marks the beginning of unlocking of the country’s coal sector from the lockdown of decades, but aims at making India the largest exporter of coal, the Prime Minister said.
Presently, despite being the world’s fourth largest producer, he said India is the second largest importer of the dry-fuel. “Allowing private sector in commercial coal mining is unlocking resources of a nation with the world’s fourth-largest reserves,” the PM added.
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