The government has issued draft guidelines for e-auction of 74 coal blocks in the first phase out of 200 that had been cancelled by the Supreme Court. Briefing media in New Delhi today Coal Secretary Anil Swarup said that the bids for coal blocks to be auctioned in the first phase will be due on 11th of February next year. Mr Swarup also clarified that coal block auction is not a revenue maximisation exercise and the government is keen to keep the tariffs under control.

He also said, auction process will focus on how to avoid monopoly and put cap on the number of coal blocks a company can bid for. The Coal Ministry has also asked allottees of 74 mines to provide the information of their fields by 24 November. The government has also proposed to complete the entire process by 31st March next year.