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Government’s Auction of 54 Mines: Expected Collection Rs. 1.5 Lakh Crores
September 25, 2017
According to a top official, the government’s auction of 54 mineral blocks during the current financial year can bring as much as Rs. 1.5 lakh crores for the exchequer of the states that are rich in minerals. So far, these states have collected Rs. 73,000 crores from the auction of 21 mineral blocks.
Mines Secretary Arun Kumar, who was present at an important event recently, said that the government expects to auction 54 mines that have a mineral value of Rs. 2 lakh crores. The revenue collection is expected to be Rs. 1.5 lakh crores.
The first mine auction took place during February 2016 when two limestone blocks of Chhattisgarh were sold.
