News related to Coal and Spectrum auction

NSG_Blackcats

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Coal auction a Rs 50,000cr annual bonanza for states

The aggressive bidding in the auction of coal blocks has prompted the government to revise its internal projections of revenue to states to Rs 15 lakh crore (50,000 crore annually) from 204 blocks over the next 30 years from around Rs 7 lakh crore estimated a few weeks ago, half of which was to come by way of royalty.

The resources that will flow to the coal producing states such as Jharkhand, Odisha, Chattisgarh, West Bengal, Madhya Pradesh, Maharashtra and Arunachal Pradesh will be more than the Centre's budgeted non-plan expenditure for the current financial year and many times higher than what the states, several of which have large proportion of poor, spend currently.

"It is going to be much higher than what we had anticipated," acknowledged a government official, who did not wish to be identified.
Now those who questioned the figures quoted by CAG in coal scam got their answer? I am happy for my state and it will empower the states.
 

NSG_Blackcats

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Coal auction: Hindalco, Sunflag shine on day 2; aggressive bidding leaves prominent bidders out of race

Hindalco Industries beat six companies including Monnet Ispat & Energy, Rungta Mines, UltraTech Cement and the prior allottee Usha Martin to bag the Kathautia mine in Jharkhand by offering Rs 2,860 per tonne of coal. The mine has good quality coal reserves of around 26 million tonnes.

Belgaon block in Maharashtra was bagged by Sunflag Iron & Steel at Rs 1,785 per tonne beating beat Balco, Reliance Cement and Topworth Urja and Metals. The block was earlier owned by Sunflag and has 14 million tonne reserves.
 

NSG_Blackcats

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Please visit below mentioned link for updates on allocation of mines.

Link
 

ezsasa

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Other benefit of auctioning the coal blocks is the Rs 100 per tonne green tax applicable. This green tax will be used to offset the solar infrastructure being built. I think there is already a corpus of 36000 crores available since 2008, the more they mine the more the corpus increases.
 

NSG_Blackcats

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Bangalorean

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So, the CAG has been vindicated.

Auction worth Rs. 7000000000000 is hardly being discussed as part of mainstream discourse. Personal suit auction worth Rs. 10000000 is given reams and reams of space in all channels, all newspapers.

Weird priorities the MSM has. Kaam ka news is buried in the 13th page. Bullshit is on the 1st page.
 

NSG_Blackcats

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NSG_Blackcats

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Telecom auction gets Rs 60,000 crore bids on first day

The biggest ever auction of 2G and 3G airwaves today began on a high note with operators making bids worth an estimated Rs 60,000 crore after six rounds of bidding in all four bands.

The bidding will resume tomorrow morning in the auction through which the government was expecting to raise over Rs 82,000 crore. The final amount may go much higher if bids continue at such an aggressive pace.
 

NSG_Blackcats

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Sir,

What does minus sign before the winning prices indicate?(eg in WB case)
I am not sure, those mines may be part of reverse auction (for power plants) . In reverse auction, lower bidder gets the mine and the company have to sell the power at cheaper rate.
 

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Airwaves auction off to strong start, bids near $10 billion


MUMBAI Wed Mar 4, 2015 Reuters

(Reuters) - India's latest auction of radio wave frequencies for telecoms networks got off to strong start on Wednesday, with the government receiving bids worth about 617 billion rupees ($9.9 billion), according to bidding data. bit.ly/1B6SANL

Market leaders Bharti Airtel and Vodafone Group Plc's local unit are among eight companies bidding to win the 20-year allocations in four different spectrum bands in an auction that the government reckons could raise $13.3 billion.

Data released by the Department of Telecommunications after six rounds of bidding on the first day of the auction showed strong interest in the premium 900 megahertz band, which is currently being used for voice services but can also carry high-speed 3G data and has more reach than the higher-frequency, higher-capacity 1800 and 2100 MHz bands on offer.

The auction could take days or even weeks depending on bidding intensity. The government will not disclose company-specific bids until the auction is over.
 

anoop_mig25

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@NSG_Blackcats

Has gov really gained all those money form auction of coal/mines/spectrum or it is projected one ...

When would they gain all those money
 
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NSG_Blackcats

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@NSG_Blackcats

Has gov really gained all those money form auction of coal/mines/spectrum or it is projected one ...

When would they gain all those money
Central government would gain revenue once the spectrum is allocated, most probably by April 2015. GoI is not yet declared the winner for spectrum bidding due to court order. But 90% of the spectrum has been allocated and the revenue as per yesterday was 1.05 lakh crore.

Regarding coal mine - Both center and state govt will keep on getting the revenue during the entire life time of mines. The revenue will be generated in 3 forms. Revenue from coal mining for cement, steel etc industries (forward bidding done, revenue goes to states ), royalty from coal mining (both center and state will get it), revenue from lower power tariff (both state and center will benefit, coal mining for power plant was reverse bidding where the lowest bidder get the mine but the company have to sell his power at cheapest).

State and center will get the projected revenue in due course of time as its based on tonnage of coal being mined. So we can be certain about revenue from mining and royalty but for revenue from lower power tariff, we have to wait.

Government (both center and state) would also gain for other mining activities. As per the just passed new mining law every mine should be allocated in future only by auction.
 
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