Coal India Contributes Rs 20,072 Crore To Government In April–July
In July alone, total levies paid to the government rose to Rs 4,992.5 crore from Rs 4,789.4 crore a year earlier.
State-owned Coal India Ltd's contribution to the government exchequer increased by 2.06% to Rs 20,072 crore during the April–July period of the current financial year.
Coal India, which produces over 80% of India's coal, contributed Rs 19,666 crore to the government in the same period last year, according to provisional figures from the coal ministry.
In July alone, total levies paid to the government rose to Rs 4,992.5 crore from Rs 4,789.4 crore a year earlier. These payments include royalties, goods and services tax, cess on coal, and other levies, significantly contributing to both central and state government revenues.
In the first four months of financial year ended March 2024, the largest portion of these payments went to the Jharkhand government, amounting to Rs 4,417.1 crore, followed by Odisha with Rs 4,319.7 crore, Chhattisgarh with Rs 3,950.4 crore, Madhya Pradesh with Rs 3,526.3 crore, and Maharashtra with Rs 2,086.4 crore.
State governments are entitled to receiving 14% of royalty on the sale price of coal and 30% of the royalty as contribution towards the proposed district mineral foundations — which are meant to support people affected by various projects — and 2% of NMET from dry-fuel produced by the coal companies and also the private sector.
In case of captive, commercial mines, states are also entitled to receiving the revenue share offered by the auction holder in a transparent bidding process.
Apart from this, state governments also benefit from increased employment, land compensation, increased investment in allied infrastructure like railways, roads and several other economic benefits.
Coal India is aiming to produce 838 MT of coal in the ongoing financial year.
(With Inputs From PTI)
