New Delhi | Feb 2, 2017: The Budget has proposed a three times increase in allocation for safety of coal mines.

Addressing a press conference to enumerate the impact of the Budget proposals, Minister of State (Independent Charge) for Power, Coal, Renewable Energy and Mines Piyush Goyal said, “The allocation for safety has been hiked to ₹500 crore in the Budget.”

The budgetary allocation for this was kept at ₹150.50 crore for financial year 2017, 11.47 per cent lower than the allocation in the previous fiscal. The revised allocation for safety spend in financial year 2017 stood at ₹350.50 crore. On the allocation for the Power Ministry, Goyal said that it has been increased by 33 per cent to ₹13,881 crore, due to major thrust on flagship rural electrification scheme Deen Dayal Upadhayaya Gram Jyoti Yojana .

The allocation for this scheme has been increased by 44 per cent from ₹3,350 crore to ₹4,814 crore, while the contribution to urban areas scheme Integrated Power Development Scheme (IPDS) has been increased by 29 per cent from ₹4,524 crore to ₹5,821 crore.

The government also said that it will auction four coal mines for commercial mining in 2017-18. Coal Secretary Susheel Kumar said, “The government will auction 23 coal mines for the unregulated sector, two will be allocated in the coming financial year.” He added that four of the 23 mines to be auctioned will be earmarked for commercial mining.

(Source: http://www.thehindubusinessline.com/)