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Coal India Ltd's contribution to the government's exchequer fell by 2.2% to ₹9,560.28 crore in April-May of this fiscal year. Over 80% of the country's coal production is produced by Coal India Ltd (CIL), which paid the government exchequer ₹9,777.64 crore in the same period last year, according to preliminary data from the coal ministry.
The total levies paid to the government increased from ₹4,716.5 crore in the same month of FY23 to ₹4,763.20 crore in May. Royalties, GST, coal cess, and other charges are paid to the federal and state governments. Both profit handsomely from coal extraction.
Of the total amount paid to the government exchequer in the first two months of FY24, a maximum of ₹2,122.39 crore was paid to the state government of Jharkhand, followed by ₹2,116.15 crore to the Odisha government, ₹1,933.59 crore to Chhattisgarh, ₹1,496.80 crore to Madhya Pradesh, and ₹1,048.44 crore to Maharashtra, among others.
State governments are entitled to receive 14% of the royalty on the sale price of coal, 30% of the royalty as a contribution towards the proposed district mineral foundations (DMFs)—which are meant to support people affected by various projects—and two per cent of NMET from dry fuel produced by the coal companies and the private sector.
In the case of captive commercial mines, states are also entitled to receive the revenue share offered by the auction holder in a transparent bidding process. Apart from this, state governments also benefit from increased employment, land compensation, increased investment in allied infrastructure like railways and roads, and several other economic benefits. Coal India's production and off-take are pegged at 838 MT for FY25.
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