Coal PSUs Surpass Capex Target For FY 2023-24 By Achieving 106.74% Of Annual Target

Coal PSUs under the administrative control of MoC have been at the forefront of doing CAPEX to assist and contribute in transforming Indian economy. Over the past few year Coal CPSE has been over achieving the CAPEX Target.

In FY 21-22, Coal PSUs had achieved 104.86% their target. Similar performance was repeated in FY 2022-23 where coal PSUs achieved around 109.24% of its target. There has been consistent YoY growth in CAPEX by Coal PSUs over last 3 years.

The Ministry of Coal's CAPEX target for 2023-24 is 21,030 Crore. By Feb 2024, coal PSUs have already surpassed the FY 2023-24 target by making record capex of Rs. 22448.24 Cr i.e. 106.74% of the annual target. With major CAPEX investments materializing in the last two months of the fiscal year, it is anticipated that both CIL and NLCIL will add to their achievement, further bolstering India's economic growth trajectory.

For FY 2022-23, the target fixed by GeM for Ministry of Coal (including its CPSEs) for procurement of Goods & Services through GeM was Rs. 4000 crore. The achievement against the target was Rs. 4,278 Crores, which is 107%.

For FY 2023-24, the actual procurement through GeM is Rs 88,518 crores (till 02 March, 2024) which is 415% of target of Rs 21,325 Crores.

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