Coal PSUs Surpass CAPEX Targets for Third Consecutive Year

Coal PSU’s underneath the executive management of MoC have been on the forefront of doing CAPEX to help and contribute in remodeling Indian financial system. Over the previous few yr Coal CPSE has been over attaining the CAPEX Goal.

In FY 21-22, Coal PSU’s had achieved 104.86% their goal. Related efficiency was repeated in FY 2022-23 the place coal PSUs achieved round 109.24% of its goal. There was constant YoY development in CAPEX by Coal PSU’s over final 3 years.

The Ministry of Coal’s CAPEX goal for 2023-24 is 21,030 Crore. By Feb 2024, coal PSUs have already surpassed the FY 2023-24 goal by making report capex of Rs. 22448.24 Cr i.e. 106.74% of the annual goal. With main CAPEX investments materializing within the final two months of the fiscal yr, it’s anticipated that each CIL and NLCIL will add to their achievement, additional bolstering India’s financial development trajectory.

CAPEX is among the essential elements of the financial dynamics, which has a multiplier and trickle-down affect on the general financial system boosting consumption, demand and spurs industrial development, creates employment and long-lasting infrastructure from which sturdy advantages accrue to the nation over an extended time period.

ASSET MONETIZATION

Ministry of Coal has outperformed within the Govt of India’s bold plan of monetizing underutilized belongings in its Flagship programme of Asset Monetization began in FY 2021-22. Total achievement underneath Asset Monetization is as follows:

In actual fact, cumulatively for FY 2021-22 to 2022-23 Ministry of Coal accounts for practically half of the entire monetization achieved underneath Authorities of India’s Asset Monetization Plan.

Additional in FY 2023-24, until February 2024 itself MoC has achieved its AMP Goal. MoC has achieved Asset Monetization of Rs. 55148.33 Cr until Feburary 2024 towards its goal of Rs. 50118 Cr.

PROCUREMENTS THROUGH GEM

For FY 2022-23, the goal mounted by GeM for Ministry of Coal (together with its CPSEs) for procurement of Items & Companies by GeM was Rs. 4000 crore. The achievement towards the goal was Rs. 4,278 Crores, which is 107%.

The next awards have been bestowed upon Ministry of Coal, CIL & NLCIL by the Minister of Commerce & Business within the ceremony held on 26.06.2023:

“Greatest Engagement”- Ministry of Coal

“Rising Star” – Coal India Restricted

“Well timed Funds (CPSEs)” – NLC India Restricted

For FY 2023-24, the precise procurement by GeM is Rs 88,518 crores (until 02 March, 2024) which is 415% of goal of Rs 21,325 Crores.

Ministry of Coal is at 1st Place within the total procurement by GeM amongst all of the Central Ministry / Departments. Coal India Restricted (together with subsidiaries) is at TOP place in GeM procurement amongst all CPSEs (until 02.03.2024).