Despite its cash-flow issues, Coal India Ltd has already spent over Rs 8,000 crore as capital expenditure (capex) till December 2020 in the current fiscal, and is looking to meet a revised target of Rs 13,000 crore of such expense by the end of FY’21, an official said on Sunday. The capital expenditure target for the financial year 2020-21 was initially set at Rs 10,000 crore, the CIL official said. The government has instructed the public sector companies to increase their capital expenses to boost the economy which was hit by the COVID-19 pandemic, he said. “With the achievements of our internal goals, the government has raised our capital expenditure target to Rs 13,000 crore.
“We have already crossed Rs 8,000 crore till December and will definitely surpass the Rs 10,000-crore mark. We will chase the new goal as this will help revive the economy,” a CIL official told PTI. The Maharatna PSU had spent Rs 5,023 crore till September this fiscal, which was 118 per cent utilisation of its half-yearly target.
