On account of revision in dry fuel prices, the government-owned Coal India (CIL) is likely to get an extra revenue of Rs 2,119 crore in this fiscal. CIL has revised and rationalised the basic notified prices of all the grades of non-coking coal except GI, G2 and G5. The estimated additional revenue due to revision of basic notified price for the current financial year is Rs 2,119 crore.
This was disclosed by the Union Minister of State for Coal Pratik Prakashbabu Patil in the Lok Sabha on December 10. CIL had revised the prices of all grades of coal, barring three, for all its eight producing subsidiaries with effect from May 28 this year.
While Mahanadi Coalfields and Central Coalfields could contribute to CIL's revenue through the price revision of coal, CIL subsidiary Eastern Coalfields is the only arm which would incur Rs 99-crore loss due to price revision, the Minister said.
Meanwhile, the Competition Commission of India (CCI) has imposed a penalty of 1,773.05 crore on (CIL) and its subsidiaries for abusing their dominant position as suppliers of non-coking coal to power producers.
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