STOCK MARKET BSE NSE

States may suffer Rs 319 crore in revenue loss owing to 3-day strike by CIL unions

Of an average 1.5 million tonnes of coal mined by Coal India (CIL) per day, around Rs 106 crore of revenue goes to states' exchequer, the official explained.

Published: 02nd July 2020 05:10 PM  |   Last Updated: 02nd July 2020 05:15 PM   |  A+A-

Rs 2000, cash,money

Representational Image (Photo | PTI)

By PTI

NEW DELHI: Coal-bearing states, including Jharkhand, Chhattisgharh, Madhya Pradesh and Odisha, may suffer an estimated revenue loss of Rs 319 crore on account of a three-day strike by Coal India unions.

Coal India trade unions started their three-day strike, protesting against the Centre's decision to allow commercial mining, on Thursday, which is likely to hit around four million tonnes of production.

Of the estimated Rs 319 crore loss, Odisha is likely to take the maximum hit of around Rs 70 crore, followed by Chhattisgarh (Rs 66 crore), Madhya Pradesh and Jharkhand (Rs 61 crore each), Maharashtra (Rs 27 crore), West Bengal (Rs 23 crore) and Uttar Pradesh (Rs 11 crore), according to a coal ministry official.

ALSO READ: Coal India trade unions begin 3-day strike; around 4 MT of coal output likely to be hit

Of an average 1.5 million tonnes of coal mined by Coal India (CIL) per day, around Rs 106 crore of revenue goes to states' exchequer, the official explained.

Coal Minister Pralhad Joshi had in December informed Parliament that the government collected Rs 2.03 lakh crore in revenue from Coal India from 2013-14 up to 2018-19.

Of the total revenue received, the maximum of Rs 44,826.43 crore was mopped up in 2018-19.In 2017-18, the revenue stood at Rs 44,046.57 crore, while in the preceding fiscal, it was Rs 44,068.28 crore, the minister had said.

In 2015-16, the government collected Rs 29,084.11 crore in revenue from the PSU, whereas in the preceding fiscal, the figure stood at Rs 21,482.21 crore. In 2013-14, the revenue was at Rs 19,713.52 crore, he said.

Assam, Chhattisgarh, Jammu & Kashmir, Jharkhand, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Telangana, Uttar Pradesh and West Bengal are the coal producing states.

Coal India unions are protesting the government's decision to allow commercial coal mining, among other issues.

Prime Minister Narendra Modi last month launched the auction process for 41 coal blocks for commercial mining.

Coal minister Joshi had said that no state government except West Bengal opposed the government's move to open the coal sector for private companies.

The Centre, Joshi said, does not want any confrontation with the states over the sale of mines.

The minister also stressed that apprehensions of the Jharkhand government that investors may not turn up for the auction of mines due to COVID-19 were "unfounded". He also said that Chhattisgarh expressed reservations about four blocks.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp