Indian Economy News

Centre to monetise assets worth ₹75,220 crore in coal mining sector in FY23

In FY23, the Centre plans to monetise assets in the coal mining sector worth Rs. 75,220 crore (US$ 9.67 billion). The Ministry of Coal said in its monetisation plan for FY23 that monetisation of coal blocks is estimated to generate revenue of Rs. 52,200 crore (US$ 6.71 billion), followed by Rs. 20,320 crore (US$ 2.61 billion) from projects on the Mine Developer and Operator (MDO) model, Rs. 2,000 crore (US$ 257.16 million) from discontinued mines, and Rs. 700 crore (US$ 90 million) from washeries. The figures for monetisation are estimates.

The asset monetisation target of NITI Aayog for the Ministry of Coal for the current financial year is Rs. 6,060 crore (US$ 779.20 million), the Ministry said in a statement.

The Ministry's overall monetisation was Rs. 40,090 crore (US$ 5.15 billion), compared to the NITI Aayog's target of Rs. 3,394 crore (US$ 436.4 million) for 2021-22, according to the statement.

The National Monetisation Pipeline has selected 160 coal mining assets worth a total of Rs. 28,747 crore (US$ 3.69 billion) for monetisation between FY22-25.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.