Govt to take bigger revenue share from coal sold in open market

KOLKATA: The government will take a higher revenue share from the portion of coal output that is sold in the open market by winners of coal blocks on offer in the current round of the auction. Winners will be allowed to sell a quarter of the output in the open market without price restrictions.

Blocks will be awarded on the basis of the highest share of revenue offered to the government. On top of this share, the government will take another 15% for sales in the open market. The remaining 75% of the output is for captive consumption by winners of 27 blocks being auctioned to private companies from sectors like iron and steel, cement and captive power plants.