The Union Minister for Coal and Mines stated on Thursday that the nation is optimistic about reaching the 1 billion tonne objective of coal output by the end of the fiscal year 2023–2024, given the accomplishment of almost 900 million tonnes of domestic coal production to date. According to him, as of March 7, 43.5 million tonnes of coal were kept in store by domestic coal-based power plants.
Furthermore, by the end of this fiscal year, the government anticipates that the entire coal stock that is currently available at all locations including coal firms and power plants will have increased to 155 million tonnes from 135 million tonnes. Approximately 85 million tonnes of coal are currently in stock with the nation’s coal firms.
As of March 6, the nation had produced 900 million tonnes of domestic coal, 27 days ahead of last year’s output of 893.19 million tonnes, according to the ministry. The government reports that India’s percentage of imports of coal in its overall consumption decreased from 26% in 2019 to 19% in 2023-4. The nation has saved Rs 82,000 crore in foreign exchange during the first ten months of the current fiscal year.
In addition to lowering thermal coal imports, the government wants to generate 105 million tonnes of coking coal by 2030, with an additional 25–35 million tonnes coming from blocks sold at auction as part of the Mission Coking Coal program. “Thereafter, we’re going to install new washeries.” The coal ministry’s assistant secretary announced that ten washeries would be established in BCCL and CCL to supply coal to the steel industry.
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