News related to Coal and Spectrum auction

[anoop_mig25]

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.

what if larged coal is mined but only small amount is shown to be mined and accordingly amount is placed ..

Is there any mechanism to check such corruption ?????????

 

[NSG_Blackcats]

what if larged coal is mined but only small amount is shown to be mined and accordingly amount is placed ..

Is there any mechanism to check such corruption ?????????

I have not gone through all the clauses of the new coal bill but I believe there is a mechanism to ascertain the amount of coal mined. I guess there was a mechanism earlier also because royalty were granted to states in old system.

 

[NSG_Blackcats]

Spectrum auction ends with bids about Rs 1.10 lakh crore

India's biggest telecom spectrum auction ended on Wednesday after 19 days of fierce bidding that fetched about Rs 1.10 lakh crore to the government.

"The auction has concluded," an official source said. The auction for airwaves in four bands ended after 115 rounds of bidding, a source said. The total value of bids stood at Rs 1,09,874 crore.

The spectrum auction included airwaves held by nine licences of Idea Cellular, seven each of Reliance Telecom and Vodafone and six permits of Bharti Airtel that were expiring in 2015-16.

 

[NSG_Blackcats]

@anoop_mig25

FYI...

The spectrum auction that concluded on Wednesday fetched the bids worth Rs 1,09,874.91 crore.

Depending on the band, carriers will have to pay as much as 33 per cent of their final bid within 10 days of the auction's conclusion and the rest in 10 annual installments starting in 2017. The permits will be valid for 20 years.

Source

 

[NSG_Blackcats]

Government gets Rs 32,300 crore upfront payment from spectrum sale