Coal India Limited (CIL) and Neyveli Lignite Corporation India Limited (NLCIL), under the Ministry of Coal, have achieved 95.83% of their capital expenditure (capex) target for the fiscal year 2023-24, with an investment of ₹20,153 crore out of the targeted ₹21,030 crore as of January 2024.
The performance aligns with the trend of surpassing capex targets seen in previous years, where CIL and NLCIL exceeded their goals by achieving 104.88% and 123.33% in FY 21-22, and approximately 113% in FY 2022-23, respectively.
This consistent overachievement in capex underscores the role of Coal PSUs in driving economic growth through increased consumption, demand, and industrial development, alongside creating employment and establishing durable infrastructure for the country.
With major capex investments anticipated in the last two months of the fiscal year, both CIL and NLCIL are expected to once again exceed their annual CAPEX targets, contributing significantly to India’s ongoing economic transformation.
Capex is one of the crucial parts of the economic dynamics, which has a multiplier and trickle-down impact on the overall economy boosting consumption, demand and spurs industrial growth, creates employment and long-lasting infrastructure from which durable benefits accrue to the country over a long period of time.
