The proposed auction of 204 coal blocks will fetch huge revenues to Exchequers of states, particularly Jharkhand which will get Rs 2.5-Rs 3 lakh crore in the next 30 years. The government is in the process of finalising rules of auctioning 204 coal blocks which were cancelled by the Supreme Court in September terming the allocations of these mines since 1993 as ´fatally flawed´. Both public and private entities would be given blocks through the auction process. On Coal India (CIL), the government has chalked out a strategy for the company to ramp up its production to one billion tonnes over the next five years. CIL had produced 462 million tonnes in the last fiscal, missing its target of 482 MT.
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