CIL's coal allocation under spot e-auction drops 36% to 11.25 MT in Apr-Sep

Topics Coal India | Coal allocation | CIL

File photo of Coal India building

CIL's coal allocation under spot e-auction scheme declined 36.4 per cent to 11.25 million tonne in April-September period of the ongoing fiscal.

Coal India (CIL) had allocated 17.69 million tonne (MT) of coal in the year-ago period, according to government data.

The coal allocated by the PSU under the scheme in September also dropped to 1.97 MT, compared to 2.58 MT in the corresponding month of 2018-19, it said.

Coal distribution through e-auction was introduced with a view to providing access to coal for such buyers who are not able to source the dry fuel through the available institutional mechanism, as per the information available on CIL website.e

The purpose of e-auction is to provide equal opportunity to all intending buyers for purchasing coal through single window service. Coal India accounts for over 80 per cent of domestic coal output. CIL's coal allocation under spot e-auction scheme had declined 37.7 per cent to 34.34 MT in 2018-19.

The government had earlier asked the mining major to fast-track its ambitious one billion tonne production target and look to achieve the goal by 2023-24. The miner had earlier said it would meet the target by 2025-26. CIL is targetting an output of 660 million tonne in the ongoing financial year.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel