President Pranab Mukherjee has signed the Ordinance moved by the Government to allow e-auctioning of coal blocks paving the way forward for reallocation of 204 blocks cancelled by the Supreme Court on September 24.
The President’s press secretary confirmed the development to BusinessLine .
Industry association Federation of Indian Chambers of Commerce and Industry welcomed the decision. “This is an important decision and highlights the Government’s seriousness to reform the sector. The Ordinance will address the future of cancelled blocks and ensure that the already producing blocks are bought back on track. Through this move the Government has arrested concerns pertaining to diminishing coal supplies,” said Sidharth Birla, President, FICCI. “It is also necessary that the route followed must provide a level playing field for public and private sectors, including on terms and pricing,” added Birla.