New Delhi: Soon after PM Modi launched the virtual auction process of 41 coal blocks for commercial mining, Union Home Minister Amit Shah on Thursday said this historic decision will make India self-reliant in the energy sector by introducing competition and boosting coal production. Also Read - COVID-19 an Opportunity For India to be Self-Reliant, Says PM Modi, Launches Coal Mine Auction
“In line with the 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 and boosting coal production,” Shah said.
Issuing a statement, Shah said that the decision of the Modi government will create more than 2.8 lakh jobs and also will attract capital investment worth Rs 33,000 crore.
“This decision of the Modi government will create more than 2.8 lakh jobs, attract capital investment worth Rs 33,000 crore and generate annual revenue of Rs 20,000 crore for the state governments,” Shah said.
Earlier in the day, PM Modi launched the virtual auction process of 41 coal blocks for commercial mining and said India should be the world’s largest coal exporters considering the size of reserves it has and unlocking of coal mining for commercial players is a step in that direction.
PM Modi hoped that it will garner Rs 33,000 crore of capital investment in the country over next 5-7 years. He said it is a major step in the direction of achieving ‘self-reliance’.
“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,” PM Modi 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 tonnes.