Compensate GST Loss: Revanth Asks Centre

Announcing profit-sharing bonuses for Singareni Collieries Company Limited (SCCL) employees, the Chief Minister highlighted the financial impact of the GST restructuring on state finances. He called upon the Centre to support states adversely affected by the revised tax regime, stressing that Telangana’s concerns over declining revenues must be addressed without delay.

“We demand that the Centre take immediate action to mitigate the financial burden arising from the GST rate rationalisation, which has severely affected Telangana’s revenue streams,” Revanth Reddy said, directing deputy chief minister Bhatti Vikramarka to write to Union coal and mines minister G. Kishan Reddy, pressing for the release of a viability gap fund.

For Singareni workers, the Chief Minister announced a Diwali Bonus from the share of profits earned through Coal India Ltd, in addition to the Dasara bonus already declared.

He reaffirmed his government’s commitment to the welfare of SCCL employees and vowed to secure two private coal blocks in Telangana that were earlier under Singareni’s control but lost due to non-participation in tenders during the previous BRS government’s tenure.

Revanth Reddy warned that the rise in private partnerships poses a serious threat to the survival of the prestigious Singareni Collieries. He assured workers that the State government would lobby the Centre to reallocate coal mines currently allotted to private agencies.

“The Telangana government stands firmly with Singareni employees, recognising their pivotal role in the state’s progress and prosperity,” he declared. He also recalled the unwavering support Singareni workers extended to the Telangana movement, emphasising that their contribution to securing statehood would always be remembered.

Out of a total income of ₹6,394 crore, the Chief Minister announced that ₹4,034 crore would be reinvested into the company for expansion. This year, 41,000 permanent employees of Singareni will receive a collective bonus of ₹819 crore, amounting to 34 per cent of the company’s profits from the remaining ₹2,360 crore. In addition, the bonus for 30,000 contract employees has been raised to ₹5,500, up from last year’s ₹5,000.

Revanth Reddy reiterated his government’s resolve to transform SCCL into a competitive, profit-driven enterprise capable of standing alongside leading corporate entities. He lauded the hard work and dedication of Singareni workers, noting that their consistent efforts have enabled the company to achieve higher profits year after year and share these gains with its workforce.