Minister of Coal and Mines G Kishan Reddy told the Lok Sabha that India’s coal production climbed by a strong 11.7 percent to reach a record level of 997.83 million tonnes during the financial year ending March 31, 2024.
According to him, the government’s main goal is to boost domestic coal output in order to stop importing non-essential coal into the nation.
The minister stated that from 730.9 million tons in 2019–20, coal production has increased gradually over the past four years.
“With a growth of 10.75 percent to 247.396 MT, the double-digit increase has been carried over to the first quarter (April-June) of the current financial year,” the minister stated.
According to him, the government has implemented a single window clearance gateway for the coal industry to expedite the operationalization of coal mines as part of its efforts to increase coal output in the nation.
2020 saw the start of a revenue-sharing auction for commercial mining as part of the new reforms.
“A 50% rebate on the final offer has been allowed for the quantity of coal produced earlier than the scheduled date of production under the commercial mining scheme,” he stated.
The minister also announced the granting of incentives related to coal gasification or liquefaction, which include a 50% discount on the final offer.
“New companies can now participate in the bidding process as the terms of commercial coal mining have also been liberalized with no restrictions on coal utilization,” the minister clarified.
According to him, certain measures have been taken by coal businesses, such as the use of mass production methods, to enhance domestic coal production. Coal India Ltd is the largest producer in the country.
Additionally, it has been utilizing cutting-edge technology in its surface miners, dumpers, and high-capacity excavators. Additionally, the minister said, “Coal India is planning large capacity UG mines wherever feasible.”
