The Business Bytes
TBB BUREAU
NEW DELHI, JAN 3, 2023
India’s coal production increased impressively by 16.39 per cent to 607.97 million ton (MT) during April-December 2022 as compared to 522.34 MT produced during the corresponding period in FY22.
Coal India Ltd (CIL) reported coal production of 479.05 MT up to December of FY23 as compared to 413.63 MT in the year-ago period, registering a growth of 15.82 per cent.
Ministry of Coal has paved the way for releasing additional coal in the market by greater utilization of mining capacities of captive coal blocks which has led to increase in production of coal by Captive and Other companies by 31.38 per cent to 81.70 MT during April-December ’22 as compared to 62.19 MT produced during the corresponding period of FY22. The Ministry has also amended the Mineral Concession (Amendment) Rules, 1960 under MMDR (Amendment) Act, 2021 to allow lessee of captive mines to sell coal/lignite up to 50 per cent of the total excess production after meeting the requirement of the end-use plants.
The Ministry is taking steps to augment rail connectivity infrastructure for all major mines under PM Gati Shakti to ensure faster evacuation. As a result, the total coal despatch have been to the tune of 637.51 MT during April-December ’22 as compared to 594.22 MT during same period of FY22 representing a growth of 7.28 per cent which shows steady and efficient amount of coal despatch to various sectors across the nation.
With an objective to enhance coal production capacity, the Ministry of Coal has put 141 new coal blocks for commercial auction and has been engaging regularly with various coal companies in the country and monitoring their production. The all-round efforts made to increase domestic production and dispatch has shown extremely good results.
