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54m ago

Telangana Sets ₹819 Crore Bonus for Singareni Workers, Reserves ₹4,034 Crore for Expansion

Officials say the reinvestment is meant to diversify the company and shield it from privatization pressures.

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Overview

  • Singareni Collieries reported ₹6,394 crore profit after tax for 2024–25, with ₹4,034 crore earmarked for new projects and ₹2,360 crore treated as the distributable base.
  • About 41,000 permanent employees will receive ₹1,95,610 each, and roughly 30,000 contract workers will get ₹5,500.
  • The payout equals 34% of the stated distributable amount and was announced at the Secretariat by Chief Minister A. Revanth Reddy and Deputy Chief Minister Mallu Bhatti Vikramarka.
  • Unions and opposition leaders, including TBGKS and BRS’s T. Harish Rao, contest the calculation that excludes expansion funds and seek a larger worker share.
  • The government detailed growth plans spanning the Naini coal block in Odisha, gold and copper rights in Karnataka, a critical minerals roadmap with PwC and KPMG, and efforts to reclaim privately held blocks and seek compensation for a ₹7,000 crore GST revenue shortfall.