Odisha to mop up Rs 20,000 cr incremental revenue from e-auctions: Pradhan

Recently, Odisha successfully conducted electronic auctions of 19 lapsing iron and manganese ore blocks now run by merchant or non-captive iron ore blocks

Online auctions of mineral blocks will bring in windfall gains for Odisha known for its repertoire of mineral wealth.

Union petroleum minister Dharmendra Pradhan said, the state could mop up an incremental Rs 20,000 crore each year owing to the transparent system of awarding mineral blocks through the auctions route.

“Odisha will be a huge gainer due to the new MMDR (Mines and Minerals Development & Regulation) Act. Previously, states only got royalty”, Pradhan said here at a workshop on 'Enabling Procedures for increase of steel usage for growth of economy' jointly organised by Union ministry of steel, Confederation of