Recently, Maharatna PSU and the supplier of India’s 80% domestic coal, Coal India Limited’s (CIL) contribution to the Union’s exchequer plummeted by 2.2% to Rs. 9,560.28 crores in the April-May period of FY’24. In FY’23, CIL had paid Rs. 9,777.64 crores to the government exchequer.
It must be noted that coal production generates substantial revenue for both central and state governments and includes royalties, GST, cess on coal, and other levies. Of the total amount paid to the government exchequer in the first two months of FY’24, the maximum amount of Rs. 2,122.39 crores was made to the state government of Jharkhand, followed by Rs. 2,116.15 crores to the Odisha government, Rs. 1,933.59 crores to Chhattisgarh, Rs. 1,496.80 crore to Madhya Pradesh, and Rs. 1,048.44 crore to Maharashtra among others.
Coal India’s production and off-take are pegged at 838 MT for FY’25, according to the estimates by the coal ministry.
