Coal India's revenue amount for govt rises 6.4% to Rs 60,140 cr in FY24

Coal India Ltd (CIL) paid Rs 56,524.11 crore to the government in FY23, accounting for over 80% of domestic coal output, as per the coal ministry's provisional figures.

Coal India's revenue amount for govt rises 6.4% to Rs 60,140 cr in FY24

Coal India Ltd, a state-owned company, has contributed Rs 60,140.31 crore to the government exchequer in the financial year 2023-24. This represents a 6.4% increase compared to the previous year. Additionally, the total levies paid to the government in March 2024 amounted to Rs 6,069.18 crore. This is an increase of 14.8% from the corresponding month of the previous financial year when Rs 5,282.59 crore was paid.

Of the total Rs 60,140.42 crore paid to the government exchequer in FY24, maximum amount of Rs 13,268.55 crore was made to the state government of Jharkhand, followed by Rs 12,836.20 crore to the Odisha government, Rs 11,890.79 crore to Chhattisgarh, Rs 10,865.96 crore to Madhya Pradesh, and Rs 6,188.89 crore to Maharashtra among others.

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State governments are entitled to receive a share of the revenue generated from coal sales. This includes 14% of the sale price of coal and 30% of the royalty as a contribution towards the proposed district mineral foundations (DMFs), which aim to support project-affected people. Additionally, they receive 2% of the revenue from dry fuel produced by coal companies and the private sector under the National Mineral Exploration Trust (NMET).

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In the case of captive commercial mines, states are entitled to receive the revenue share offered by the auction holder in a transparent bidding process. State governments also benefit from increased employment opportunities, land compensation, and investment in allied infrastructure like railways, roads, and other related economic benefits. Coal India aims to produce and off-take 838 MT for FY'25.

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