Coal India has upgraded the pay scales of its executives up to the mid-levels, effective January 1, 2017.
In a regulatory filing, the state-owned organisation clarified that the pay revision, though notionally applicable from 2017, will only be payable prospectively from August 23, 2023.
The total estimated impact of this pay upgrade on Coal India, calculated up to December 31, 2026, is expected to be around ₹3,400 crores.
Coal India is the world’s largest coal producer and operates via multiple subsidiaries across states. The pay upgrade is likely an effort mande by the state-owned organisation to align its compensation structure with the industry standards.
