INTERNSHIP PROJECT REOPRT

ON
GST and audit
At
Northern Coalfield Limited
(Singrauli)

Training project report

Submitted in the partical fulfillment of B.com (NEP)5th sem.
Mahatma Gandhi kashi vidyapeeth , Varanasi (U.P.)
Awadhoot bhagwan ram P.G. college, Anpara ,
sonbhadra (U.P.)
(SESSION – 2023-24)

MENTOR: SUBMITTED BY:

Shri Prakaash chohan Ishan singh

AFM department HQ Reg. No.-50422840050

Finance , NCL HQ Enroll. No.- KA2K22/504840050

ACKNOWLEDGEMENT
I would like to express my deepest appreciation to all
those who provided me the possibility to complete this
report. I have taken efforts in this project. However, it
would not have been possible without kind support and
help and many individuals and the organization. A special
gratitude I give to our project manager Sri S.P. Singh and
my college mentor Sri Ajay Vikram Singh whose
contribution in stimulating suggestion and encouragement,
helped me to co-ordinate my project specially in writing
this report.

Furthermore, I would also like to acknowledge with much

appreciation the crucial role of the staff, who gave the
permission to use all required equipment and necessary
materials throughout the period. Last but not least, my
thanks go to the head of the project Sri S.P. Singh who
have invested his full efforts in guidance given by the other
supervisor as well as the panels especially in our project
presentation that has improved our presentation skills
thanks to their comment and advices.

Thank you!
Ishan Singh
B.com (5th sem.)
Index
Chapter 1 : Introduction
1-1. About the industry
1-2. CIL’s mission
1-3. Company profile
1-4. Company’s vision , mission and core values
1-5. Objectives
1-6. Area of operation
1-7. Products and services
1-8. SWOT analysis
​Chapter 2 : executive summary
​chapter 3 : work description
​3-1. Maintained register of BC and FC
​3-2. Maintaining bill data in excel sheet
​3-3. Maintaining bill register
​3-4. Maintaining BC and FC data in excel sheet
​3-4. Checking bills
​3-5. Checked MB’s book calculations
​chapter 4 : Auditing
​4-1. Introduction of audit
​4-2. Introduction of internal audit
​4-3. Types of internal audit
​4-4. Advantages of internal audit
​4-5. Disadvantage of internal audit
​4-6. Process of internal audit
​4-7. Introduction of cost audit
​4-8. Advantages of cost audit
​4-9. Disadvantages of cost audit
​4-10. Process of cost audit
​4-11. Introduction of statutory audit
​4-12. Advantages of statutory audit
​4-13. Disadvantages of statutory audit
​4-14. Process of statutory audit
​ hapter 5 : GST
C
​5-1. About the topic
​5-2. Overview of GST
​5-3. Advantages of GST
​5-4. Disadvantages of GST
​5-5. Types of GST
​Chapter 6 : Overview on NCL
​6-1. Major achievements of NCL in FY 2023-24
​6-2. Corporate management policy
​6-3. Sustainable development policy of coal India limited
2023
​6-4. Key features of NCL
​
Introduction of the organizations business
sector
About the Industry
To take care of energy requirement of India, the central
government of India did a nationalization of coal industry
in the 1970. It acquired most of the coking coal mines in
India (226 coking coal mines) through Bharat checking
coal limited (BCCL). To consolidate the businesses of both
coking and non-coking coal under one entity, a format
holing in the form of coal India limited was formed in
November 1975 to manage both the companies.

Coal India limited (CIL) is an Indian state controlled coal

mining company headquartered in Kolkata, West Bengal.
It is the largest coal producer company in the world and
contributes around 81% of coal production in India.
CIL’s Mission
To produce and market the planned quantity if coal and
coal products efficiently and economically in an
eco-friendly manner with due regard to safety,
conversation and quality.

CIL’s
Organizational structure
Company profile
Northern coalfield limited
Northern coalfield limited (NCL), Singrauli is a major of the
nation NCL is a wholly owned subsidiary of coal India
limited. Under the ministry of coal, government if India and
mini Ratna (category-I) company since 2007.

Type – Public Industry

Established – IN 1986
Headquarters – Singrauli (M.P.)
Area of NCL- Above 2202 SQ. KM
Turnover – 9303.88 CRORE (2013-14)
Achieved – ISO 9001, ISO 14001, OHSAS 18001, SA
8000
Vision, mission and core values

⮚ Vision

To emerge as a global player in the primary energy sector

committed to provide energy security to the country by
attaining environmentally 7 socially sustainable Growth
through best practices from the mine to market.

⮚ Mission

To produce and market the planned quantity of coal and

coal products efficiently and economically in an
eco-friendly with due regarded to safety conservative and
quality.

⮚ Core values

NCL has recognized the potential of coal production

through socially sustainable inclusive development. To
meet the increasing demand of coal, NCL is fully aligned
to the needs of adapting to advanced mining
technologies and continuously upgrading itself through
research and development.
Objectives

⮚ To carry on the business of coal mining including the

management of the coal mines on behalf of and under
the directions of coal India limited.
⮚ To search, get, work, Raise, make, merchantable, sell
and heal in coal and by products.
⮚ To act as colliery and mine propriety and to act as
trades and carrier of coal.
⮚ To carry on any of the business of coal washeries
/beneficiation and to deal in other by products arising
from them.
⮚ To promote, co-ordinate and ensure effectiveness of
research activities in coal section under S&T and R&D
schemes.
⮚ To produce coal with due regard to safety,
conservation and quality.
⮚ To satisfy consumers with the best quality product at
the right price at the right time.
⮚ To undertake formulation of environmental
management plans (EMPs), environment impact
assessment (EIA) and mine closure plans for coal
mining and related projects by NCL through CMPDIL.
AREA OF OPERATION
Products and services

⮚ Coking coal

⮚ Semi coking coal

⮚ NLW coking coal

⮚ Washed and beneficial coal

⮚ CIL coal/LTC coal

⮚ TAR / heavy oil / light oil / soft pitch

SWOT Analysis

Strength

⮚ Abundant natural resources: coal is a widely

available energy source.
⮚ Job creation: coal mining operations can contribute
significantly to local employment.
⮚ Energy security: coal provides a stainable source of
energy, contributing to national energy security.
Weakness

⮚ Environmental impact: coal mining can lead to

deforestation, habitat destruction and air and water
pollution.
⮚ Safety concerns: mining operations involve risks to
worker’s health and safety.
⮚ Dependency on global markets: to coal industry
may be vulnerable to fluctuations in international
demand and prices.
Opportunity

⮚ Technological advancement: innovations in clean

coal technologies can mitigate environmental impact.
⮚ Diversification: exploring alternative energy source
or products could reduce dependency on coal alone.
⮚ Global energy transition: shifting towards
sustainable energy creates opportunities for
transitioning skill and infrastructure.
Threats

⮚ Regulatory changes: stricter environmental

regulations may impact the profitability of coal
mining.

⮚ Market competition: competition from alternative

energy sources could reduce demand for coal.

⮚ Public perception: growing awareness and

concerns about environmental issues may lead to
decreased social acceptance of coal mining.

EXECUTIVE SUMMARY
I am ishan singh currently pursuing my graduation in
bachelor of commerce at Awadhoot bhagwan ram P.G.
college in Anpara, Sonebhadra ( U.P.). Being a resident
of Singrauli I have completed my 10th and 12th from Akhil
bhartiya open schooling (ABOS).
B.com is an undergraduate course of 3 years. It is the
course that teaches the fundamentals of accounting and
finance practices. Through this course, an individual can
learn the technical skill associated with many of the
producers of financial analysis and accounting standard.
In this last year we have a subject internship in which we
have to work.
As a part of academic, I did my internship at NCL HQ
Singrauli for 30 days. In this period I have learnt to
maintain bill data in excel sheet, maintaining bill of
register, BC and FC.
This project is about my internship detail information about
the task which had been undertaken by one during
internship period.
Work description:-
I have tried my best to enhance my abilities and apply the
knowledge that I gained during the studies.

Different task that I learned during my internship /

training:-

⮚ Maintain register of BC and FC

⮚ Maintain bill data in excel sheet

⮚ Maintaining bill register

⮚ Maintaining BC and FC data in excel sheet

⮚ Checked MB’s book calculation

⮚ Checking bills

⮚ Overview of different type of taxation

Maintained register if BC and FC
Budget certification – budget certification is a process in
which a person or organization officially verifies its budget
so that it can be held accountable for its financial
commitments.
For example, according its tender, a government
department that is allocating funds to a project must follow
a budget certification process. This process will ensure
that the proposed budget for the project is correct, the
expenses are justified and everything is transparent as per
financial regulation. During tender, contractors are also
able to provide this certification their ability manage
finances responsibly within the allocated budget.

Finance concurrence – finance concurrence typically

refers to the agreement or approval of financial matters by
relevant authorities or stakeholders. In the context of
tendering, it often involves obtaining approval for budget
allocation or financial decision related to a specific project
or procurement.
For example, a construction company may need financial
concurrence from the client or project owner before
proceeding with a tendered project, ensuring that the
proposed budget and financial project align with the
client’s expectation or approval.
Maintaining bill data in excel sheet

Maintaining bill register

Maintaining BC & FC data in excel sheet
Introduction
Audit is the examination or inspection of various
books of accounts by an auditor followed by physical
checking of inventory to make sure that all
departments are following documented system of
recoding transaction. It is done to accuracy to
financial statements provided by the organization.

There are many types of audits but there are main 3

audit conducted in NCL company, this of which are:

a) Internal Audit
b) Cost Audit
c) Statutory Audit
INTRODUCTION
Internal audit is a Systematic, independent examination of
an organization’s activities of ensure finance and
operational controls, risk management and governance
processes of Northern Coalfield Limited (NCL) or any
organization, internal audits serve to enhance overall
efficiency and effectiveness.

Types of internal audits at NCL may include:

⮚ Financial -Focuses on the organization’s financial

system’s ensuring accuracy and compliance with
accounting standards.
⮚ Operational audit – examines operational processes
to Indentify areas for improvement in efficiency and
effectiveness.
⮚ Compliance Audit – ensures that NCL adheres to
relevant laws, regulations and internal policies.
⮚ Risk-based Audit – Evalautes risks and the
effectiveness of risk management processes within the
organization.
⮚ Performance Audit- assesses the effectiveness and
efficiency of programs, projects or operations.
⮚ Informational Technology (IT) Audit –reviews the
organization’s IT systems and data integrity.
⮚ Integrated Audit – combines various audit types to
provide a comprehensive evaluations of multiple
aspects.
These internal audit types contribute to NCL’s ability to
manage resource, mitigate risks and ensure compliance
with industry standards and regulations.
Advantages of internal audit

⮚ Compliance assurance – audits ensure that the

project adheres to relevant regulation, policies and
standards, reducing the risk of non-compliance and
associated consequences.
⮚ Process improvement- by evaluating processes
internal audits provide insights into areas where
efficiency and effectiveness can be enhanced,
leading to continuous improvement.
⮚ Resource optimization – audit helps optimize
resource allocation by indentifying areas where
resources maybe underutilized or where additional
support may be required.
⮚ Fraud prevention – internal audits can detect and
deter fraudulent activities, promoting transparency
and integrity within the project.
⮚ Stakeholders confidence - regular internal audits
can enhance stakeholders confidence by
demonstrating a commitment to accountability,
transparency and the effective management of
project resources.
Disadvantages of internal Audit:
⮚ Costly and time consuming – internal audits can be
resource intensive in terms of time and cost, diverting
resources away from project implementation and day
to day operation.
⮚ Limited expertise – internal audits team, lack
specialization expertise in certain areas, limiting their
ability to comprehensively assess specific aspects of
the projects.
⮚ Conflict of interest – internal auditors may face
conflicts of interest, particularly if their findings out
could reflect poorly on the performance of project.
⮚ Inflexibility – internal audits processes may not be
adaptable to the dynamic nature of some college
projects, potentially leading to assessment that do
not reflect the current state of affairs.
⮚ Focuses on past performance – internal audits
often focus on historical performance, potentially
neglecting emerging or nature risks that could impact
the project.
⮚
Internal audit process:

⮚ Establishing objectives – Define the objectives of

the internal audit specific to NCL, considering
regulatory compliance, risk management, financial
controls and operations.
⮚ Scope definition – indentify the scope of the audit,
specifying the departments, functions or processes
with NCL that will be examined.
⮚ Information gathering – collect relevant information
about NCL’s operations, policies, producers and
financial records and review documentation related to
coal mining, environmental practices and financial
records.
⮚ Continuous Improvement –Evaluate the
effectiveness of the internal audit process of NCL
and identify the opportunities to enhance future
audits producers and add values to the organization

By understating these advantages, disadvantages and the

audit process, NCL can leverage internal audits to
enhance its overall performance and governance.
Cost Audit
Cost audit is a systematic examination of a company’s
cost accounting records and activities to ensure accuracy
and compliance with established accounting principles
.(NCL) may employee various types of cost audits to
enhance financial control these can include :

⮚ Product cost audit - focuses on the costs

associated with manufacturing costs or producing
specific products, ensuring accurate allocation of
expenses.
⮚ Operational cost audit - examines day-to-day
operational costs, helping NCL identify areas for
efficiency improvement and cost reduction.
⮚ Compliance cost audit - ensures adherence to
regulatory guidelines and company policies, reducing
the risk of a legal or finance penalties.
⮚ Environmental cost audit - examines costs related
to environment compliance and sustainability efforts,
promoting responsible business practices.
It’s essential to note that the specific types of cost audits
conducted by NCL may vary based on industry regulation,
company policies and the nature of its operations.
Advantages of cost audit :

⮚ Cost control and efficiency – identify the area of

inefficient resources utilization allows NCL to
implement cost control, measures, improving overall
operation efficiency.
⮚ Compliance with regulations – cost audits helps
ensure that NCL complies with relevant regulatory
requirements related to cost accounting standards
and reporting.
⮚ Profitability analysis – by examining cost
associated with different aspects of operations, NCL
can gain insight into the profitability of specific
projects, mines or activities.
⮚ Enhanced decision making – accurate cost
informed decision making by NCL’s management,
supporting strategic planning and resource allocation.
⮚ Benchmarking – comparative cost analysis against
industry benchmarks helps NCL assess its cost
competiveness and identify areas for improvement.
Disadvantages of cost audit:

⮚ Cost – cost audits can be expensive, particularly if

they involve extensive data collection and analysis.

⮚ Time consuming – cost audits can be time

consuming, requiring significant resources and
disrupting normal business operations.

⮚ Resistance to change – cost audits may identify

changes that need to be made but implementing
those changes may be met with resistance from
employees or other stakeholders.

⮚ Complexity – cost audits can be complex, requiring

specialized knowledge and expertise to conduct
effectively.

⮚ Confidentiality concerns – cost audits may involve

the review of sensitive financial information, raising
concerns about confidentiality and data protection.
Cost audit process :

⮚ Documentation review – examine financial

documents, invoices and receipts related to coal
mining operations.
⮚ Expenses verification – verify the accuracy of
expenses such as exploration, extraction,
transportation and rehabilitation costs.
⮚ Compliance check – ensure adherence to
regulatory guidelines and industry standards
governing coal mining activities of NCL.
⮚ Resource utilization analysis – assess the efficient
use of resource, including labor, machinery and raw
materials to indentify potential areas for
improvement.
⮚ Environmental compliance - Evaluate compliance
with environmental regulations, especially regarding
land reclamation and rehabilitation efforts.
Statutory audit
Statutory audit is a legally required examination of
company’s financial statements to ensure accuracy and
compliance with applicable laws and regulations. For
northern coalfield limited, types of statutory may include:

⮚ Financial audit – ensures accuracy of financial

statements, assessing if they present a true and fair
view of the company’s financial position.
⮚ Compliance audit – focuses on adherence to
relevant laws and regulations, ensuring the company
follows statutory requirements.
⮚ Internal audit – conducted by the company’s internal
audit team or external auditors to asses internal
controls, risk managements and operational
efficiency.
It’s important to control specific documentation or
authorities related to northern coalfield limited for precise
details on the types of statutory audits they undergo.
Advantages of statutory audit:
⮚ Financial accuracy – verifies the accuracy of
financial statements, promoting reliable reporting and
transparency in financial dealing.
⮚ Legal compliance – ensure adherence to statutory
regulations, reducing the risk of legal issues and
penalties, there by enhancing the company’s
credibility.
⮚ Fraud detection – helps in detecting and preventing
fraudulent activities, safeguarding the company’s
assets and maintaining integrity in financial
operations.
⮚ Operational efficiency – identifies areas for
operational improvement, cost-saving measures and
efficiency authorities by providing assurance on the
financial health and compliance of the coal mining
operations.
⮚ Corporate governance – reinforces good corporate
governance practices, fostering accountability and
ethical behavior within the organization.
⮚
Disadvantages of statutory audit :
⮚ Reputation risks – if the audit reveals irregularities or
financial issues it can negatively impact the reputation
of the coal mining company, effecting relationships with
stakeholders and investors.
⮚ Costs – conducting a statutory audit involves expenses
related to hiring external auditors and dedicating
internal resources, which can be significant.
⮚ Time consumption – the audit process may take a
considerable amount of time, potentially impacting the
company’s regular operations and decision-making
processes.
⮚ Limited predictive value – audits are historical in
nature and may not provide insights into future
challenges or changes in the coal mining industry
limited their predictive values.
Statutory audit process :

⮚ Engagement planning – NCL engages and external

audit firm and preliminary discussions take place to
understand the company’s operations, risk and
financial reporting requirement.
⮚ Risk assessment – the auditors assess the risk
associated with the coal mining operations, including
financial, operations and compliance risks.
⮚ Internal controls evaluations – auditors evaluate
the effectiveness of internal controls in place for
financial reporting and operational processes within
the NCL.
⮚ Audit testing – substantive procedures are
performed to test the accuracy and validity of
financial transactions and account balances.

For precise details on the statutory audit process for

Northern coalfield limited , it’s recommended to refer to the
company’s specific policies and procedures or consult with
their auditors .
About the topic
Types of taxes in India:-

⮚ Direct Tax

⮚ Indirect Tax

⮚ Direct tax - Direct Tax is a directly point to the

government by the taxpayers it is imposed directly by
the government and cannot be transferred to any
other entity for payment.
Example of directly tax in India
i. Income Tax
ii. Wealth Tax
iii. Corporate Tax
⮚ Indirect tax – Indirect taxation refers to tax that does
not come directly from employees income, company
profits or assets.

Example of Indirect tax in India

i. Custom Duty
ii. Excise Duty
iii. Service Duty
iv. Sales Tax
v. VAT
OVERVIEW ON GST
GST is an Indirect Tax which has replaced many indirect
taxes in India. The goods and service tax Act was passed
in the parliament on 29th march 2017. The act came into
effect on 1st July 2017. Goods and service tax law in India
is a comprehensive, multistage, destination based tax that
is levied on every value addition.
In simple words, goods and service tax (GST) is an
indirect tax levied on the supply of goods and services
.this law has replaced many indirect tax laws that
previously existed in India.
GST in one Indirect tax for the entity country.
Why does India need GST:-

⮚ GST is a being introduced majorly due to 2 reasons:

⮚ The current indirect tax is fully of uncertainties due to

multiple rates.
⮚ Due to multiple rates there are multiple forms.
Advantages of GST
⮚ Unified tax structure – GST replaces indirect taxes,
leading to a simplified and unified tax structure this
reduces complexity and enhance asses of
compliance for NCL.
⮚ Competitive advantages – with the removal of
inter-state barriers and a standardized tax system,
coal mining companies can operated more efficiently
and competitively in the national market.
⮚ Simplified tax findings – GST consolidates various
tax filings into a single return making it easier for coal
mines to manage their tax obligations this
simplification reduces the administrative burden on
business.
⮚ Input tax credit – business can claim input tax credit
on GST paid on points capital goods and services
used in the production process this can lead to cost
savings for coal mining operations.
⮚ Reduced tax evasion – the transparent future of
GST coupled with digital tracing and reporting, helps
in reducing tax evasion this benefits both the
government and compliant business in the coal
mining sector.
Disadvantage of GST

⮚ Compliance cost – adapting to the GST system and

ensuring compliance can incur additional cost for
coal mining companies and especially if they need to
invest in new technologies or hire experts to manage
the transition.
⮚ Initial implementation challenges – the initial
phase of implementing GST may bring about
operational challenges and Disruption as business
Adjust to the new tax regime.
⮚ Impact on small business – business may
experience cash flow challenges during the transition
period especially if there are delays in receiving input
tax credits or adjusting to the new tax payment
schedules.
⮚ Impact on pricing strategies – challenges in tax
rates and input tax credit mechanisms may influence
pricing strategies for coal products and companies
any need to adjust their pricing models accordingly.
Types of GST
In India, there are mainly their three types of goods and
service tax (GST), each represented a different level of
government:-

⮚ Central GST (CGST):-

▪ CGST is the tax collected by the central government

on extra state supplies of goods and services.
▪ Example of NCL – is NCL sells coal within the same
state where its mining operation, CGST would be
applicable.
⮚ State of GST (SGST):-

▪ SGST is the tax collected by the state government on

intra-state supplies of goods and services.
▪ Example of NCL – if NCL purchases goods and
services locally , within the state where is mining
activities are situated , SGST would be applicable
⮚ Integrated GST (IGST):-
▪ IGST is applicable to inter-state transaction and it is
collected by the central government. it is designed to
maintain uniformity in taxation for goods and services
moving across state borders.
▪ Example of NCL – if NCL sells coal to a buyer
located in other state, IGST would apply, the tax
collected would go to the central government and
later a portion would be transferred to the concerned
state.

For NCL being a mining company , transactions

involving the sale if coal, procurement of mining
equipment and other goods and services required for
its operations would fall under the GST categories,
it’s important for NCL to correctly classify transaction
to ensure compliance with the applicable GST
provision.
Overview on NCL
NCL operates primarily with the objective of
producing coal with due regarding to social
up-liftment, sustainable development and
environment up gradation. Organization’s main
products include non-coking coal in the range of
grades G5 to G3 besides ‘De-shale coal’ and ‘coal
rejects’. About 86% of the coal produced is
dispatched to power sector. NCL has share of about
15% in nation’s total coal production.
Major achievements of NCL in FY 2023-24 (
Till 2nd quarter)

⮚ NCL has not only surpassed its production off take

targets till 2nd quarter of FY 2023-24, but it has also
ensured positive growth 6.9% growth in coal
production. 16.5% growth in overburden removal and
4.7% growth off take.
⮚ Achieved the milestone of 250 MCuM OBR of FY
2023-24 on 5th 23 30 days ahead of the previous
financial year.
⮚ NCL has set record of average 43.6 rakes per day in
September, 2023 which is the highest average rakes
per day of a month since inception.
⮚ In September 2023, NCL ensured off take of 11.46
MT which is highest off take of the September month
inception.
⮚ In order strengthen company’s infrastructure, NCL
has already achieved 171.4% (provisional) of its
CAPEX target to progressive Sep’23.
⮚ NCL has ensured grade conformity of 88.1% till July
2023 against 80.7% of grade conformity in last year.
Corporate management policy
NCL have voluntary chosen to implement a
comprehensive system for simultaneous management of
our economic, environment and social concerns as a part
of our business agents.
NCL are committed to:

⮚ Assured quality of coal supplies.

⮚ Optimum utilization of available resources.

⮚ Continual improvement in the management and

performance of our system.
⮚ Ensuring prevention of pollution, injury and ill health
due to our work activities.
⮚ Comply with all applicable legislation and other
subscribed obligations.
⮚ Respect all ILO and other international charters on
social and labor issues.
⮚ Promoting importance of the concept of sustainable
development.
⮚ Ensure that is policy is effectively implemented,
maintained and communicated.
⮚ Review this policy regularly to ensure its continual
improvement and relevance.
⮚ This policy accessible in a comprehensible form to all
personnel engaged to NCL in any manner.
Sustainable development policy of Coal
India Limited-2023
a) Scope
This policy may be called “ sustainable
development policy (SDP) of coal India
limited-2023”this policy will be applicable to coal
India limited (CIL) and its subsidiary companies in
India it shall come into force from the date of
approval by the CIL board.

b) Policy statement
CIL shall promote and pursue sustainable mining
integrating environmental, socio-cultural and economic
factors which comprise the basic fabric of sustenance in
our society. It shall also incorporate views and opinions of
stakeholders ensuring compatibility and implementation.
c) Objectives and strategies
The objectives of the SDP and CIL shall be in line with the
government of India principles and directives on
sustainable development encompassing mainly three
components.
i. Environmental sustainability
ii. Socio-culture sustainability
iii. Economic sustainability
This SDP and CIL affirms its commitments to protect and
safeguard the environment and conserve the bio-diversity
for maintaining the ecological balance besides effecting
socio-cultural and economic betterment of the surrounding
of its operations.
d) Implementation
Subsidiaries and CIL head quarters shall prepare annual
action plan detailing the activities of ensure the above
strategies are implemented in a planned way with the
approval of concerned SD committee. The progress of the
activities shall be reviewed by the SD committee.
Key features of NCL

⮚ Geographical presence – NCL operates in the

northern coalfield of India, primarily in the state of
Madhya Pradesh and Uttar Pradesh.
⮚ Coal reserves – NCL is known for having significant
coal reserves in its operational areas, contributing to
the overall coal production.
⮚ Employee welfare – NCL is likely to have various
initiatives for the welfare of its employees including
safety measures, health programs and other benefits.
⮚ Community engagement – mining operations often
impact local communities and responsible companies
like NCL typically engage in community development
initiatives to contributes to the well – being of the
areas where they operates.
⮚ Technological adoption – the coal mining industry
is evolving and companies like NCL are expected to
adopt modern technologies for efficient and safer
coal extraction.
Conclusion
After a month of training in financial department, I have
gained valuable insights into financial processes,
enhanced analytical skills and developed a deeper
understanding of financial management. Continuous
learning and application of acquired knowledge will be
crucial for ongoing success in this field.