|
|
|
|
Jharkhand govt moves SC against coal blocks auction
|
|
|
|
| Top Stories |
 |
|
|
|
SME Times News Bureau | 21 Jun, 2020
The Jharkhand government has moved the Supreme Court to challenge the
central government decision to auction coal blocks for commercial mining
in the country.
Prime Minister Narendra Modi on Thursday
launched the auction of 41 coal blocks through a videoconference. The
two-stage e-auction will help allocate mines to the successful bidders.
The
state's plea, filed through advocate Tapesh Kumar Singh, contended that
the Covid-19 pandemic had resulted in a negative global investment
climate, and it will act as a deterrent to getting reasonable returns
from energy-rich natural resources through auctions for commercial coal
mining.
The plea contends that auctioning would also have an adverse effect on the tribal populace in the mining areas.
"The
need for fair assessment of social and environmental impact on the huge
tribal population and vast tracts of forest lands of the state and its
residents are likely to be adversely affected," the state averred.
The
plea contended that the decision to auction is not correct, as there
was no law to guide mining activities. The Mineral Laws (Amendment) Act,
2020 creates a "legal vacuum" after it lapsed on May 14.
"...
whether such a policy flip-flop on a strategically and economically
important ingredient of energy basket of the country, that too within
such a short span of time, will boost investors confidence especially
when, post Covid 19 scenario, countries are looking away from China and
towards India?" the state government plea added.
The plea
contends that Section 11 (A)(1) of the Mines and Minerals (Development
and Regulation) Act, 1957 allowed participation in competitive bidding
for domestic companies, but restricted participation of global firms. On
June 11, this condition was removed by an ordinance.
Both domestic and global firms can now participate in the auctioning of the 41 coal blocks.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
₹91.25
|
₹89.55 |
UK Pound
|
₹122.85
|
₹118.85 |
Euro
|
₹107.95
|
₹104.3 |
| Japanese
Yen |
₹59 |
₹57.1 |
| As on 29 Dec, 2025 |
|
|
| Daily Poll |
 |
 |
| What is your biggest hurdle to scaling right now? |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
