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The Parliamentary Standing Committee on Coal and Steel has questioned PSUs under the Ministry of Mines, namely National Aluminium Company Limited (NALCO), Hindustan Copper Limited (HCL) and Mineral Exploration Corporation Limited (MECL) for underutilisation of funds. In its report, the Committee states, “For 2016-2017, plan outlay of Rs 5,909.15 crore were earmarked at Budgetary Estimate stage for the said PSUs but the same was reduced to Rs 3,004.24 crore at the Revised Estimate stage…the actual utilization up to January 31 was only Rs 776.35 crore.”
The committee has noted that the Ministry of Mines should, “accord utmost priority for realistic budget estimates of annual plan of PSUs as well as their physical targets set to be accomplished so that approved outlays are fully utilized during the financial year.”
The committee has also sought reasons for the lower number of Mining Plans approved by the Indian Bureau of Mines in fiscal 2016-2017. In its 28th report, the committee notes that IBM approved 110 Mining plans during 2013-2014, 185 during 2014-2015. Comparably, IBM has approved 55 mining plans during 2016-2017 (till January 2017).
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