The Business Bytes
TBB BUREAU
NEW DELHI, JULY 03, 2023
The Ministry of Coal has achieved substantial surge in overall coal production with a growth of 8.40 per cent in the first quarter (Q1) of the current financial year (FY24). The cumulative coal production witnessed a significant increase, reaching 222.93 million tonne (MT) as compared to 205.65 MT in the corresponding period of the previous fiscal.
Coal India Limited (CIL), the world’s largest coal producer, mined a total of 175.35 MT of coal during Q1FY24, registering a growth of 9.85 per cent as compared to the same period last year. CIL produced 159.63 MT of coal during the same period in FY23. Captive mines and others also attained a growth of 4.74 per cent touching 30.48 MT in FY24 as compared to 29.10 MT in FY23 during the same period. These accomplishments have contributed to the overall positive momentum in the sector.
Simultaneously, cumulative coal dispatch has shown an upward trend, reaching 239.69 MT (Provisional) in Q1 of FY 2023-24, as compared to 224.08 MT in Q1 of FY 2022-23 with a growth of 6.97 per cent. Coal India Limited (CIL) registered 186.21 MT production in Q1 of FY 2023-24 as compared to 176.81 MT in Q1 of FY 2022-23 with a growth of 5.32 per cent. At the same time, SCCL, and captive/others have recorded 18.07 MT and 35.41 MT in Q1 of FY 2023-24 as compared to 17.30 MT and 29.97 MT in Q1 of FY 2022-23, with a growth of 4.45 per cent and 18.16 per cent respectively. These figures highlight the efficiency of the coal supply chain in ensuring smooth distribution across the country.
Furthermore, the upturn in offtake has resulted in a comfortable coal stock position. The total coal stock as on 30th June 2023 has recorded remarkable growth reaching at 107.15 MT (provisional) as compared to 77.86 MT as on 30th June 2022, reflecting a growth of 37.62 per cent. This growth indicates the continued efforts to meet rising demand of coal.
The sustained efforts of the Ministry of Coal towards enhancing coal production and ensuring seamless dispatch underscores India’s persistence in meeting its energy demands and fostering continuous economic growth. These positive developments position the nation favourably and contribute to driving the positive trajectory of the country’s energy sector, reinforcing the commitment towards providing uninterrupted power supply and paving the way for Aatmanirbhar Bharat.
