Home » COAL » Coal PSUs Achieve 95.83% of Annual CAPEX Target as on January, 2024

Coal PSUs Achieve 95.83% of Annual CAPEX Target as on January, 2024

Coal PSUs under the administrative control of The Ministry of Coal has been at the forefront of doing CAPEX to assist and contribute in transforming Indian economy. Over the past few years, Coal CPSEs has been over achieving the CAPEX Target. In FY 21-22, CIL & NLCIL had achieved 104.88% & 123.33% respectively of their target. Similar performance was repeated in FY 2022-23 where both Coal CPSEs achieved around 113% of its target.

The Ministry of Coal’s Capex target for 2023-24 is 21,030 Crore. As on January 2024, 20,153 Crore has been achieved, marking 95.83% progress towards the annual goal. As we navigate through the current fiscal year of 2023-24, both CIL and NLCIL are on track to exceed their CAPEX targets yet again. With major CAPEX investments materializing in the last two months of the fiscal year, it is anticipated that both CIL and NLCIL will exceed their annual CAPEX targets, further bolstering India’s economic growth trajectory.

CAPEX is one of the crucial parts of the economic dynamics, which has a multiplier and trickle-down impact on the overall economy boosting consumption, demand and spurs industrial growth, creates employment and long-lasting infrastructure from which durable benefits accrue to the country over a long period of time.

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Diversification of Coal CPSE’s for Sustainable Energy Ecosystem

The Ministry of Coal is at the forefront of a transformative initiative aimed at diversifying ...

CIL Achieves Record Coal Production of 703.91 MT up to 7th March 2024

The Coal India Limited (CIL) has achieved a record production of 703.91 million tonnes (MT) ...

Year of Exponential Growth of Coal CPSEs

Last one year, coal CPSEs have witnessed an exponential growth commensurate with their contribution to ...

Coal Ministry’s Response to Allegations Raised Against Coal Auctions held in 2015

Recently, an article has been published in a section of media alleging that Union Government ...

Historical Coal Production growth: Cheaper and Assured Availability

Our country is endowed with 5th largest geological reserves of coal.  We are 2nd largest consumers of ...

Coal Production and Dispatch from Captive and Commercial Mines Goes up by 27% and 29% respectively during Current Fiscal upto February 2024

There is month on month (m-o-m) and year-on-year (yoy) increase in coal production and dispatch ...

Union Minister Pralhad Joshi launches “Coal Logistics Plan and Policy”

Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi has launched a groundbreaking ...

13.80% Compounded Annual Growth rate of revenue from Coal Mining during 2014-2023

Coal mining sector has proved to be a big booster for economic growth of the ...

Coal India Limited Signs MoU with Indian Institute of Managements (IIM) to boost PM’s mission Gati Shakti

The Coal India Limited entered into a Memorandum of Understanding (MoU) with Indian Institute of ...

NTPC gets recognition for its effective water management; climbs up two levels in Carbon Disclosure Project Water Security Rating

NTPC’s Environmental, Social, and Governance (ESG) Score has ascended by two levels, transitioning from a ...

WP2Social Auto Publish Powered By : XYZScripts.com