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Government Index to Show Revenue of Coal Block Operators

Coal News - Published on Fri, 16 Aug 2019

Image Source: ET
ET reported that the government will use its own coal price index to calculate revenue earned by operators of coal black to ascertain its share of income from 27 blocks being auctioned to the non-regulated sector. The decision will rule out potential disputes over possible under-reporting of revenues by operators, which, the government feels, cannot be audited regularly. Payments by operators are likely to be made on monthly basis and the government has released that keeping a tab on the price/revenue may not be feasible on a regular basis. Winners of the current auction will be selected on the basis of the highest share of revenue offered to the government.

However, block operators will be allowed to sell 25% of their produce in the open market, but the revenue for calculating the government’s share will be calculated with the help of an index that was recently prepared with help from the Indian Statistical Institute.

Source :

Posted By : Sanju Moirangthem on Fri, 16 Aug 2019
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