<span style="color: #222222;">Finance Minister Nirmala Sitharaman today launched the 6th tranche of an auction of coal mines for sale of coal in the presence of Coal Minister Pralhad Joshi in New Delhi today. On the occasion, Mrs. Sitharaman said that a fast-growing economy like India needs greater investment in coal production and gasification projects. Globally, energy prices, especially gas, are going up.<br />''<br />''The Finance Minister highlighted that India is at present the best investment destination in the world. She pointed out that due to policy consistency and transparent process of the present Government, coal imports for the power sector has come down by 41 percent.  Mrs. Sitharaman said that mining sector reforms are providing the right fillip to the country's fast-growing economy.<br />''<br />''Addressing the gathering Mr. Joshi said that his Ministry is exploring alternative methodologies for enhanced use of coal. He said that the finance ministry has extended six thousand crore rupees incentive for coal gasification and two hundred fifty crore rupees for exploration. Mr. Joshi stated that during the biggest auction undertaken so far, today 141 mines pertaining to eleven states have been auctioned. He urged all prospective bidders to participate in the auctions to grow their businesses with the growth of the country.<br />''<br />''The Coal Ministry said that the commencement of sale of tender documents has started today. Details of the mines, auction terms, and timelines can be accessed on MSTC auction platform. The auction will be held online through a transparent two-stage process, on the basis of Percentage Revenue Share.<br />''<br />''The Ministry stated that the entire revenue from auctions would be allocated to coal-bearing state governments which are expected to bring in immense socio-economic benefits to Arunachal Pradesh, Assam, Bihar, Jharkhand, Telangana, Chhattisgarh, Odisha, Madhya Pradesh, Maharashtra, Andhra Pradesh, and West Bengal. Minister of State for Coal, Mines, and Railways Raosaheb Patil Danve and senior officials of the ministry were also present at the event.</span>