SECL’s contribution to the national exchequer touches a new high of 17474 crore in FY 23-24
SECL’s contribution to the national exchequer touches a new high of 17474 crore in FY 23-24
SECL, one of the largest coal-producing companies in the country, has made a record contribution of Rs 17,474 crore to the national exchequer in the last financial year 23-24. SECL has deposited about Rs 5,883 crore to the state exchequer of Chhattisgarh through various taxes in FY 23-24.
SECL’s contribution to the state exchequer of Chhattisgarh saw an increase of more than 4% (around Rs 220 crores) compared to the previous financial year.
The Central and State Governments impose various taxes on the sale of coal by SECL, including Income Tax, Royalty, District Mineral Foundation (DMF), GST, etc.
The total contribution made to the Government of Chhattisgarh includes Rs 2,843 crores as royalty, about Rs 874 crore to the District Mineral Foundation (DMF), Rs 386 crore as GST, and Rs 1778 crore paid through other taxes.
The contribution to the government treasury by various government and private companies working in the mineral-rich state of Chhattisgarh is one of the major sources of income for the state and strengthens the economy of the state. This contribution plays an important role in implementation of various social welfare schemes run by the Government of Chhattisgarh and the development of infrastructure related to electricity, water, roads, education etc. in the state.
In the last financial year, SECL deposited more than Rs 10,000 crore in the Central Government treasury, which included GST payments of more than Rs 7600 crore. Also, around Rs 1472 crore was paid to the state exchequer of the government of Madhya Pradesh through various taxes. Income tax payment of SECL also almost doubled in the year 23-24 as compared to the previous year.
