The forthcoming auctions of coal blocks are likely to reduce fiscal deficits of the States with coal mines, as about Rs 3,000 crore will flow into their coffers from the process this fiscal, a report has said. Out of 24 coal blocks being put on auctions, Chhattisgarh will be the biggest beneficiary with minable reserves of 567.77 million tonnes, followed by Jharkhand (348.42 mt) and Madhya Pradesh (293.02 mt), the report by SBI Research said. The other States which will benefit are Bengal (137 mt), Maharashtra (39.02 mt) and Orissa (33.84 mt). These States together have minable reserves of 1,419 million tonnes. ¨The coal block auction will result in a windfall gain for State governments. In the current fiscal, about Rs 3,000 crore will flow into state coffers. ¨Over the years, the expected revenue from coal block auctions is expected to even wipe-out the states´ fiscal deficit significantly,¨ an SBI internal report Ecowrap said.
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