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The government today said a revenue of around ₹2,237 crore has already been generated till May-end from the allocation of 74 coal mines.
“The revenue already generated till May 31, 2016 from the allocation of 74 coal mines under the provisions of the Coal Mines (Special Provisions) Act, 2015 is ₹2,237 crore (excluding royalty, cess and taxes), which shall be devolving entirely to the coal bearing State concerned,” Coal and Power Minister Piyush Goyal said in a reply to Rajya Sabha.
The revenue which would accrue to the coal bearing States from the allocation of mines comprises upfront payment as prescribed in allotment document, auction/allotment process and royalty on per tonne of coal production, the Minister added.
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