Coal India Ltd.

In a setback to Coal India's (CIL) investment plans for the next fiscal, the government has scaled down the capital expenditure target of the company by almost 57% to Rs 4,220 crore for 2011-12. The initial plan outlay of the company was Rs 9,800 crore for the ongoing fiscal and subsequently, it was revised to Rs 5,418 crore for 2010-11.

The provisions where lowered as the company has not been able to acquire overseas properties. For acquiring coal properties abroad, CIL had kept a budget of Rs 6,000 crore in 2010-11 and has been at a striking distance of having a deal with Australian miner Peabody for acquiring some of its properties.  Besides this, the company had pegged its domestic investment at Rs 3,800 crore during the fiscal, which has subsequently been revised to Rs 3,615 crore.