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Coal India Limited (CIL) and Neyveli Lignite Corporation India Limited (NLCIL) under the Ministry of Coal have accomplished 95.83% of their capital expenditure (capex) objective for the fiscal year 2023-24, with an investment of ₹20,153 crore out of the intended ₹21,030 crore as of January 2024.
The performance is consistent with prior years' trend of exceeding capex expectations, with CIL and NLCIL exceeding their goals by 104.88% and 123.33% in FY 21-22 and roughly 113% in FY 2022-23, respectively.
This ongoing overachievement in capex highlights how important coal PSUs are to the nation's economic growth by boosting demand, consumption, and industrial development, generating jobs, and establishing durable infrastructure.
With major capex investments anticipated in the last two months of the fiscal year, CIL and NLCIL are expected to exceed their annual CAPEX targets again, contributing significantly to India's ongoing economic transformation.
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 of time.
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