Question: How is cancellation of coal blocks?

How is cancellation of coal blocks allocation?

On September 24, the Supreme Court cancelled nearly all the 218 coal blocks the central government had allocated between 1993 and 2010. The court said the allocations were arbitrary, illegal and amounted to unfair distribution of national wealth. … Earlier, on August 25, the court had declared the allotments illegal.

How is cancellation of coal blocks allocation by the Supreme Court of India likely to affect our current account deficit?

How is cancellation of coal blocks allocation by Supreme Court ot India likely to atfect our current account deficit (CAD)? The Supreme Courts decision to cancel coal blocks is likely to cause a fall in supply of coal, particularly for production of electricity.

How many coal blocks have been auctioned?

In June, Prime Minister Narendra Modi launched the auction process for 41 coal blocks for commercial mining. Some of the large corporate groups that have bagged blocks include Adani Enterprises, Vedanta, Hindalco Industries and Jindal Power.

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How are coal blocks allocated in India?

The Central Government promulgated the Coal Mines (Special Provision) Act, 2015 to enable the Government to re-allocate the 204 coal blocks which were cancelled by the Hon’ble Supreme Court of India. The Act permitted auction of coal mines for commercial mining by private entity.

What is coal mining schedule?

Schedule I mines includes (i) all the 204 coal mines cancelled by the Supreme Court in August 2014, (ii) any land acquired by the prior allottee in or around the coal mines, and (iii) mine infrastructure. … Schedule III mines includes the 32 Schedule I mines that have been earmarked for a specified end-use.

How are remittances by NRIs helpful in tackling BOP deficit class 12?

Ans: Remittances by NRIs are reflected as receipts of foreign exchange in the capital account. If these receipts shoot up, then the BOP deficit (excess of payment of foreign exchange over and above the receipts of foreign exchange) is reduced. Thus, remittances by NRIs are helpful in tackling BOP deficit.

Is it true that the balance of payments account is always in equilibrium?

In the accounting system, the inflow and outflow of a transaction are recorded on the credit and debit sides respectively. Therefore, credit and debit sides always balance. … Thus, the balance of payments always balances in this sense also.

What is the current account made of?

Current account measures the nation’s earnings and spendings abroad and it consists of the balance of trade, net primary income or factor income (earnings on foreign investments minus payments made to foreign investors) and net unilateral transfers, that have taken place over a given period of time.

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Do coal blocks burn?

Coal block burns forever and can be lit on the sides.

How many coal mines were auctioned for commercial mining by the central government recently?

Next round of commercial coal mine auction in January, says Coal Minister. The statement assumes significance as of the total 35 coal mines successfully auctioned in the last 10 tranches of auction, only 14 blocks could begin operations.