Coal news and updates

CCEA may approve Coal India disinvestment today

The Cabinet Committee on Economic Affairs (CCEA) is likely to approve disinvestment of Coal India Ltd Wednesday which may fetch the exchequer Rs 22,000 crore.

The proposal for 10 percent disinvestment of Coal India Ltd would be taken up by Cabinet Committee on Economic Affairs (CCEA) today, sources said.

A planned stake sale in Coal India (CIL) in the last financial year had to be deferred after stiff opposition from the trade unions. The coal major had to make up for that by paying about Rs 19,000 crore as dividend to the exchequer.

The government holds a 89.65 percent stake in CIL.

In the Budget, the government has estimated to collect Rs 43,425 crore from selling stake in PSUs and another Rs 15,000 crore from sale of residual stake in the erstwhile government companies.

Of the disinvestment target of Rs 40,000 crore in 2013-14, the government had mobilised Rs 15,820 crore. In 2012-13, of the Rs 30,000 crore target, Rs 23,957 crore was raised. In 2011-12, only Rs 13,894 crore was raised of the Rs 40,000 crore target.

Source: Zee News/Agencies