6 coal-bearing States get an upfront payment of Rs. 704 billion from the coal ministry
According to a formal announcement released on Thursday, the Centre has distributed the advance payment of Rs 704 crore it got from the sixth round of coal mine auctions to six states. According to a statement from the Ministry of Coal, the money has been distributed to the coal-producing states of Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, and West Bengal.
“The advance payment of Rs 704 crore that the Ministry of Coal got from the sale of coal mines has been distributed to these six coal-producing states. This cash transfer represents a significant effort to strengthen and assist the development of these nations, it stated.
The first installment of the upfront payment for 18 coal mines that were successfully auctioned off in the sixth round of auctions and second try of the fifth round of commercial coal mine auctions is represented by the allowed sum of Rs 704 crore.
