 "coal")
The Indian government-owned coal mining and refining corporation Coal India Limited, on Tuesday, said it will reduce its manpower by 5% every year for the next 5-10 years to reduce costs. The company will also close unviable mines.
The announcement has come just a day after Coal India saw its profit for the fiscal year 2020-21 (FY21) fall by 23.9% due to low demand from both the power and metal sectors amid the Covid-19 pandemic.
This is a steep fall for the CIL as it battles falling coal demand.
The company's income fell by 8.5 per cent during the last
