Coal India has received an approval for an additional 10% increase on the notified price for subsidiaries other than Western Coalfields (WCL) applicable with effect from May 28, 2013 on the existing notified price of non-coking coal of WCL of G-6 to G-17 bands with effect from December 17, 2013. Due to this increase, WCL will earn approximately additional revenue of Rs 139.84 crore for the balance period of financial year 2013-14.
Coal India, one of India's biggest companies by revenue, has monopoly rights over exploitation of coal reserves. Accounting for more than 80% of domestic production, the company has been facing heavy criticism for not being able to meet demand, forcing those who need the fuel to seek recourse to costly imports.
