Coal India Limited (CIL) has reportedly managed to save Rs 18.38 billion revenue expenditure, around 3.3 per cent of total capex, in the first nine months (April-December 2020) of the current financial year 2020-21. It’s production from opencast mines increased by 16.1 per cent in this period.
CIL’s overall expenditure dropped to Rs 542.41 billion during the referred period from that of Rs 560.79 billion for the same period year ago. The reduction in expenditure was visible in employee benefit expenses which decreased by Rs 7.35 billion. During the nine months period of the current fiscal, the company’s manpower reduced by 13,800. This reduction is expected to continue for few more years which would further shrink the employee benefit expenditure which currently stands close to 50 per cent of CIL’s overall revenue expenditure.