CIL’s H1 FY25 contribution to the national exchequer declines slightly to Rs 28,930 cr
The coal mining sector has proven to be a major driver of economic growth in fossil fuel producing states (Photo: Shutterstock)
State-owned Coal India Ltd’s contribution to the state exchequer fell marginally by 0.6 per cent to Rs 28,930.27 crore in the first half of the current fiscal over the same period a year ago.
Coal India Ltd (CIL), which accounts for over 80 per cent of domestic coal production, paid Rs 29,122.13 crore to the state exchequer during April-September of FY24, according to provisional figures from the coal ministry.
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The total levies paid to the government in September also fell by 11.1 per cent to Rs 4,335.24 crore, compared to Rs 4,878.84 crore paid in the corresponding month of FY24.
Of the total Rs 28,930.27 crore paid to the state exchequer in April-September FY25, the maximum amount of Rs 6,452.30 crore went to the Jharkhand government, followed by Rs 6,383.14 crore to the Odisha government, Rs 5,432.02 crore to Chhattisgarh, Rs 5,177.41 crore to Mad hya Pradesh and Rs 2,782.25 crore to Maharashtra, among others.
The coal-producing states earned the revenue from royalties, the District Mineral Foundation (DMF) and the National Mineral Exploration Trust (NMET), among others.
The government had earlier said that coal-producing states earned revenue of Rs 1.52 lakh crore from royalties, DMF and NMET in the last nine years.
The coal mining sector has proven to be a major driver of economic growth in fossil fuel producing states.
The PSU’s coal production in the April-September period of the current fiscal year rose 2.5 percent to 341.5 tonnes from 332.9 tonnes in the year-ago period.
Coal India’s production rose 10 per cent to 773.6 million tonnes in 2023-24, but fell short of the production target of 780 tonnes for the fiscal year.
The company’s production stood at 703.2 tonnes in the previous financial year 2022-2023.
CIL’s production is pegged at 838 tonnes for FY25.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First publication: October 13, 2024 | 11:11 am IST