Auction of coal blocks will create over 2.8 lakh jobs, attract capital investment worth 33,000 crore: Amit Shah

New Delhi: Union Home Minister Amit Shah on Thursday said that the process to auction 41 coal mines for commercial mining is in line with Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat' and it will create more than 2.8 lakh jobs in the country.

Hailing the Prime Minister for flagging off the process to auction 41 coal mines for commercial mining, Shah said that it will attract capital investment worth 33,000 crore and generate annual revenue of 20,000 crore for the state governments.

I thank PM Shri @NarendraModi and Shri @JoshiPralhad for this very important decision and for ensuring transparency in the mine allocation process. It reiterates Modi government’s commitment towards building a prosperous, corruption-free and self-reliant India. #Vocal4LocalCoal — Amit Shah (@AmitShah) June 18, 2020

The BJP veteran expressed confidence that the “historic decision” will make India self-reliant in the energy sector by introducing competition and boosting coal production.

“In line with vision of ‘Atmanirbhar Bharat', PM Narendra Modi ji today flagged off process to auction 41 coal mines for commercial mining. This historic decision will make India self-reliant in the energy sector by introducing competition & boosting coal production. This decision of the Modi government will create more than 2.8 lakh jobs, attract capital investment worth 33,000 crore and generate annual revenue of 20,000 crore for the state governments,” the Home Minister said.

In line with the vision of ‘Atmanirbhar Bharat', PM @NarendraModi ji today flagged off the process to auction 41 coal mines for commercial mining. This historic decision will make India self-reliant in the energy sector by introducing competition and boosting coal production. — Amit Shah (@AmitShah) June 18, 2020

This decision of Modi government will create more than 2.8 lakh jobs, attract capital investment worth 33,000 crore and generate annual revenue of 20,000 crore for the state governments. — Amit Shah (@AmitShah) June 18, 2020

The remarks from Shah came shortly after the PM on Thursday launched the auction process for 41 coal blocks for commercial mining, a move that opens India's coal sector for private players and termed it a major step in the direction of India achieving self-reliance.

Launching the auction of mines for commercial mining, the Prime Minister said India will win the coronavirus war and turn this crisis into an opportunity, and the pandemic will make India self-reliant.

The launch of the auction process not only marks the beginning of unlocking of the country's coal sector from the ‘lockdown of decades’ but aims at making India the largest exporter of coal, the Prime Minister said.

Presently, despite being the world's fourth-largest producer, the PM said India is the second-largest importer of the dry-fuel.

"Allowing private sector in commercial coal mining is unlocking resources of a nation with the world's fourth-largest reserves," PM Modi he pointed out.

Major scams had taken place in coal action earlier, but the system has been made "transparent" now, PM said lambasting past policies of keeping the sector closed.

The PM said that this auction process will result in major revenues to states and create employment besides developing the far-flung areas.
The commencement of auction process of these blocks, part of the series of announcements made under 'Atmanirbhar Bharat Abhiyan', is likely to contribute Rs 20,000 crore revenues annually to the state governments.

In line with the Prime Minister's self-reliance call, the aim behind the auction process is to achieve self-sufficiency in meeting energy needs and boosting industrial development.

The government has taken an important decision to open up the coal and mining sector to competition, capital and technology, he said.

Coal and Mines Minister Pralhad Joshi, who was also present during the launch event, said Rs 50,000 crore is being invested in the sector to jack up India's coal output to 1 billion tonne.