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CII President said coal blocks which were allocated as per due process, should not be cancelled
Monday, September 03, 2012  

New Delhi: The law should take its own course and no precipitate action should be taken. The coal blocks which were allocated as per due process, should not be cancelled. Any such cancellation will adversely impact business sentiment. Any coal block allocation where it is established that due process has not been followed, should be reviewed and, appropriate action taken in accordance with law.
 
There are several issues which lead to delays in the start of production in coal blocks. These are related to forest / environment clearances, land acquisition, law & order / security issues and lack of supporting infrastructure, especially in the case of blocks in remote areas. These would need to be addressed through a time–bound, single–window mechanism.
 
Almost 40 per cent of the revenue from coal mining goes to the Government as taxes, royalties, etc and this is one of the highest in the world. These benefits that accrue to the Government need to also be recognised.

 



CII President said coal blocks which were allocated as per due process, should not be cancelled
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