India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The government announced on Monday that the coal sector annually contributes over ₹70,000 crore to both the central and state governments, encompassing GST, royalties, and various other levies. In a statement, the coal ministry highlighted the substantial role these funds play in fostering socio-economic development and enhancing infrastructure in coal-bearing regions.
The statement emphasised, "Coal production generates substantial revenue for both the central and state governments, with royalty collections reaching ₹23,184.86 crore in the fiscal year 2022-23."
Furthermore, coal stands as the largest contributor to railway freight, holding an average share of nearly 49% of the total freight income, amounting to ₹82,275 crore in the fiscal year 2022-23 alone. This contribution represents over 33% of the total railway earnings for the same period.
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