Coal India's Revenue Contribution Drops 2.2% Amid Fiscal Changes

State-owned Coal India Ltd's contribution to the government's exchequer fell by 2.2% to Rs 9,560.28 crore for April-May in the ongoing fiscal year. The total levies paid to the government included royalties, GST, and other taxes. The largest payments were made to the state governments of Jharkhand, Odisha, and Chhattisgarh.

State-owned giant Coal India Ltd witnessed a 2.2% decline in its contribution to the government's exchequer, totaling Rs 9,560.28 crore for the April-May period of the current fiscal year, compared to Rs 9,777.64 crore during the same period last year, according to provisional figures from the coal ministry.

Earnings from levies rose in May to Rs 4,763.20 crore from Rs 4,716.5 crore in May of FY23. The payments encompass royalties, GST, cess on coal, and other taxes, essential for central and state revenues. Both central and state governments receive substantial income from coal through various levies.

Among the states, Jharkhand received the highest share of Rs 2,122.39 crore, followed by Odisha at Rs 2,116.15 crore and Chhattisgarh at Rs 1,933.59 crore. States benefit additionally through employment, land compensation, and infrastructure investments from coal production, with Coal India's projected production and off-take pegged at 838 MT for FY25.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)