Coal PSUs achieve 95.8% of annual capex target by January
Upstox
1 min read • Updated: February 21, 2024, 7:05 PM
Summary
Coal CPSEs have been surpassing the capex target in recent years. In the fiscal year 2021-22, both Coal India Limited (CIL) and NLC India Limited (NLCIL) exceeded their targets, achieving 104.88% and 123.33%, respectively
Coal Public Sector Undertakings (PSUs) operating under the Ministry of Coal have continued their robust performance in capital expenditure (capex), playing a vital role in India's economic growth.
As of January 2024, these PSUs have achieved 95.83% of their annual capex target, demonstrating their commitment to fostering growth and development.
Coal Central Public Sector Enterprises (CPSEs) have been surpassing the capex target. In the fiscal year 2021-22, both Coal India Limited (CIL) and NLC India Limited (NLCIL) exceeded their targets, achieving 104.88% and 123.33%, respectively. This trend continued in FY 2022-23 with both CPSEs achieving around 113% of their respective targets.
The Ministry of Coal had set a capex target of ₹21,030 crore for the fiscal year 2023-24. By January 2024, a significant milestone was reached, with capex worth ₹20,153 crore already achieved, indicating a commendable 95.83% progress towards the annual objective.
Capex plays a pivotal role in driving economic dynamics, with its multiplier effect contributing to increased consumption, demand, and industrial growth. It facilitates job creation and the development of long-lasting infrastructure.