Coal block auctioning to create 2.8 lakh jobs, to attract investment of Rs 33k cr

Union Home Minister Amit Shah on Thursday said the launching of virtual auction process for 41 coal blocks for commercial mining will create more than 2.8 lakh jobs and attract capital investment worth 33,000 crore.

In a series of tweets, Shah thanked Prime Minister Narendra Modi and Coal Minister Pralhad Joshi for starting the process of auctioning the coal blocks and said it will help build a prosperous, corruption-free and self-reliant India.

"This decision of Modi government will create more than 2.8 lakh jobs, attract capital investment worth 33,000 crore and generate annual revenue of 20,000 crore for the state governments," he said.

Shah said in line with the vision of 'Atmanirbhar Bharat', this historic decision will make India self-reliant in the energy sector by introducing competition and boosting coal production.

"I thank PM Shri @NarendraModi and Shri @JoshiPralhad for this very important decision and for ensuring transparency in the mine allocation process. It reiterates Modi government's commitment towards building a prosperous, corruption-free and self-reliant India. #Vocal4LocalCoal," he said.

Launching the virtual auction process for 41 coal blocks for commercial mining, expected to garner Rs 33,000 crore of capital investment in the country over next 5-7 years, the prime minister said it is a major step in the direction of achieving 'self-reliance'. 

He also said that the coronavirus pandemic has taught India to be self-reliant.

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, Modi said.

Presently, despite being the world's fourth largest producer, he said, India is the second largest importer of the dry-fuel.