Funds fillip for Coal India
.jpg)
Calcutta, July 10: The coal ministry has estimated an almost 30 per cent jump in plan outlay for the three PSUs under its fold in 2016-17.
The total plan outlay for Coal India (CIL), Neyveli Lignite and Singareni Collieries for 2016-17 is Rs 16,343.92 crore against a budget estimate of Rs 12,585.50 crore in 2015-16.
This amount comprises internal and extra budgetary resources of the three PSUs. Among the three, CIL has the highest expenditure outlay of Rs 7,765 crore.
According to CIL sources, the amount will be used to complete its projects as it looks to step up production despite short-term concerns over excess supply. As of January 31, 2016, CIL had 85 listed projects worth over Rs 100 crore and where work is ongoing.
"While some of the projects are on schedule, certain projects have been delayed because of various reasons. Efforts are on to expedite these projects," a CIL source said. Clearances related to forests, land and availability of infrastructure are mainly responsible for the delay.
Neyveli Lignite will spend Rs 6,278.92 crore on mine expansion and thermal and solar power projects. The Chennai-based company is setting up solar power projects at Neyveli in Tamil Nadu and Barsingsar in Rajasthan with a combined capacity of 260 megawatt.
The coal ministry, on its part, has set a planned expenditure outlay of Rs 300 crore for 2016-17, which will be spent on conservation and safety of mines, development of transport infrastructure in coalfield areas, R&D, regional exploration of coal and lignite blocks and environmental and subsidence control measures.
Other Latest News
.webp)
The Congress on Monday attacked the BJP over the alleged sex scandal involving the grandson of JD(S) supremo H D Deve Gowda, with party leader Priyanka Gandhi Vadra asking whether Prime Minister Narendra Modi will remain silent on the matter.
The opposition party also asked why the BJP went ahead with its alliance with the JD(S) when a BJP leader had written to the party's Karnataka unit president, exposing the presence of a pen drive full of "sleaze videos of Prajwal Revanna".
.webp)
China is gearing up to launch a robotic spacecraft on a mission to bring back samples from the dark side of the moon. This mission is prelude to three challenging missions aimed at achieving a Chinese crewed landing and establishing a base on the lunar South pole. And it will also be the world's first attempt at collecting samples from the other side of the moon.
Since the inaugural Chang’s mission in 2007, named after the legendary Chinese moon goddess, China has made substantial strides in its lunar exploration efforts, narrowing the technological divide with the United States and Russia.
.webp)
The Japanese yen hit its weakest levels since April 1990 on Monday, in trading thinned by a holiday in Japan and attempts by traders to test key levels and stop-loss orders in a nervous, illiquid market.
The dollar rose as far as 160.245 yen in a sudden move after the yen traded in a narrow 158.05-158.15 range in early deals.
.webp)
Veteran politician, BJP MP and former Union Minister V Sreenivasa Prasad died on Monday, family sources said.
The 76-year-old Lok Sabha member from Chamarajnagar was ailing for some time and being treated at a private hospital, where he passed away early today.
.webp)
Concerned over slow progress, the lenders of debt-ridden Reliance Capital (RCAP) have asked the Hinduja Group arm, IndusInd International Holdings Ltd, to expedite the process of obtaining necessary regulatory approvals and stick to the resolution plan deadline of May 27.
In a meeting held in Mumbai on Friday with the senior officials of IndusInd International Holdings' (IIHL), the lenders of RCAP said the company has to make a payment of Rs 9,650 crore to them by the said date, a source said.
.webp)
.webp)
.webp)
.webp)
.webp)
