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Mines auction to fetch states Rs 1.5 lakh cr in 2017-18: Secretary

The first tranche of auctions saw bidding of 21 mine blocks that fetched Rs 73,000 crore

Press Trust of India  |  New Delhi 

Mines auction is likely to fetch Rs 1.5 lakh crore to states' kitty in 2017-18, a top official said on Thursday. The first tranche of auctions, which started last year, saw bidding of 21 mine blocks that fetched Rs 73,000 crore to states. "We are looking at auction of 100 blocks in 2017-18. This should conservatively fetch about Rs 1.5 lakh crore to states and the revenue will accrue to them in a span of 50 years," Mines Secretary Arun Kumar said. The first successful auction took place in February 2016, with two small limestone blocks in Chhattisgarh going under the ...

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First Published: Thu, March 09 2017. 21:55 IST
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