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

Newdelhi:21/2/24:Coal PSUs under the administrative control of The Ministry of Coal have been at the forefront of doing CAPEX to assist and contribute in transforming Indian economy. Over the past few years, Coal CPSEs have been overachieving 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 of 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, and demand and spurring industrial growth, creating employment and long-lasting infrastructure from which durable benefits accrue to the country over a long period.