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The Cabinet Committee on Economic Affairs (CCEA) has approved the continuation of “Exploration of Coal and Lignite Scheme” that entails an estimated expenditure of ₹2,980 crore. The time period for the extension is from 2021-22 to 2025-26 co-terminus with the 15th Finance Commission cycle, a statement from the government said.
Under the scheme, exploration for coal and lignite is conducted in two broad stages. For promotional (regional) exploration, the outlay is Rs 1650 crore and for detailed drilling in areas other than that of Coal India Ltd is Rs 1330 crore.
After the seventh round of the commercial coal blocks auction, which will offer 103 mines, there will be a need to create new blocks for offer, Coal Minister Pralhad Joshi said while speaking at a press conference.
“Keeping this in mind, we have decided to go for exploration. And today we have got the fund approval,” he said. – Our Bureau
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