Millennium Post

Coal India to get `2,119-cr more this fiscal on price revision

Coal India Ltd  has revised and rationalised the basic notified prices of all the grades of non-coking coal except GI, G2 and G5....The estimated additional revenue due to revision of basic notified price for the current financial year is Rs 2,119 crore, Minister of State for Coal Pratik Prakashbabu Patil said in a written reply to Lok Sabha on Tuesday.

CIL had revised the prices of all grades of coal, barring three, for all its eight producing subsidiaries with effect from 28 May this year. Patil said the largest contributor to the revenue on account of price revision would be Mahanadi Coalfields which is expected to contribute Rs 686 crore, followed by Rs 664 crore from Northern Coalfields and Rs 495 crore from South Eastern Coalfields.

Central Coalfields' contribution to the kitty would be about Rs 248 crore, while Bharat Coking Coal would get Rs 103 crore additional revenue and Western Coalfields Rs 22 crore.

Patil added that CIL subsidiary Eastern Coalfields is the only arm which would incur Rs 99-crore loss due to price revision. CIL accounts for over 80 per cent of the domestic coal production.
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