 "Coal")
The Ministry of Coal has achieved an increase in coal production at a growth rate of 8.40 per cent during the first quarter of the financial year (FY) 2023-24. The cumulative coal production surged from 205.65 million tonnes (mt) (same period last year) to 222.93 mt this year.
Figure: PIB
In FY 2023-24, national miner Coal India Limited (CIL) produced 175.35 mt of coal, compared to 159.63 mt produced during the previous year's corresponding period, recording a 9.85 per cent increase in production which contributed to overall growth.
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Captive mines and other coal producers also witnessed a growth of 4.74 per cent, reaching 30.48 mt in FY 2023-24, compared to 29.10 mt in FY 2022-23.
The dispatch of coal has also shown a positive trend, with a 6.97 per cent growth in the first quarter of FY 2023-24. The cumulative coal dispatch reached 239.69 mt (provisional) in Q1, compared to 224.08 mt in Q1 of FY 2022-23.
Figure: PIB
Here as well, CIL achieved a production of 186.21 mt in Q1 of FY 2023-24, showing a growth of 5.32 per cent from the 176.81 mt produced in Q1 of FY 2022-23.
While SCCL and captive/others recorded 18.07 mt and 35.41 mt respectively in Q1 of FY 2023-24, reflecting growth rates of 4.45 per cent and 18.16 per cent compared to Q1 of FY 2022-23. These figures highlight the efficiency of the coal supply chain in ensuring smooth distribution across the country.
The increase in coal production and dispatch has led to a comfortable coal stock position, reported the coal ministry.
As of June 30, 2023, the total coal stock reached 107.15 mt (provisional), a significant rise from 77.86 mt on June 30, 2022. This growth of 37.62 per cent indicates the concerted efforts to meet the rising demand for coal.
Figure: PIB
These developments setting the Ministry of Coal up to not only meet India’s energy need but also reach its one billion tonne coal production target by the end of this year.
As previously reported by Business Standard in May, CIL will be producing 780 million tonnes (mt), while privately owned captive and commercial mines will contribute 162 mt.
The Ministry of Coal is also looking to set up a ‘coal-trading platform’, for which CRISIL has been appointed as consultant.
