Crisil, consultant to the Coal Ministry for fixing reserve price for auction of 54 mines, is likely to submit its report early next month.

Coal Minister Mr Sriprakash Jaiswal told reporters that "Crisil will take another 15 days to submit its report. It had sought some more time for it.”

Based on the report, the government would initiate the bidding process for allocation of mines.

A political furore followed the Comptroller and Auditor General recently estimating that the financial impact of the benefit to the private allottees on account of allotment of 57 mines to them without auction will be about INR 1.86 lakh crore.

The Coal Ministry has identified 54 new coal blocks for auction to the bidders for captive use in different sectors 16 for power, 12 for steel and 12 for government firms, among other sectors.

Source - PTI

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