Coal India (CIL) today said that the recent coal price hike by the PSU will help West Bengal rake in Rs 600 crore additional coal cess.
CIL raised the price of coal in February.
"The coal cess to West Bengal from Eastern Coalfields for the month of April and May 2011 was Rs 220 crore as against Rs 120 crore in the previous year," a senior CIL official said.
"An extra Rs 50 crore per month from coal price hike will translate into additional Rs 600 crore per annum," he said.
At a time when coal price hike is hurting several industries, it turned out be a boon for the cash strapped the West Bengal government that will earn an additional revenue of Rs 600 crore.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app