India reaches 1 bn tonne coal, lignite output target
NEW DELHI: India’s coal sector achieved its target of producing 1 billion tonne of coal and lignite in fiscal year 2023-24, according to coal minister Pralhad Joshi.
It had set a goal of over 1 billion tonne for the 2023-24 fiscal year, which it achieved a week before the year-end(FY24). However, demand is still projected to be about 1,196.6 million tonne (MT) this fiscal year. In FY 2022-23, the country’s coal and lignite production reached 937.22 MT.
“PM Narendra Modi ji is leading India’s coal mining sector to unprecedented growth,” Joshi said in a tweet. “PM Modi ji’s vision has brought everyone together to achieve 1 billion tonne production of coal+lignite. With this, we have unlocked a major milestone for the coal mining sector, thereby assuring energy security to the nation.”
The country boasts a substantial coal stockpile, with about 96 MT available with coal companies. Additionally, domestic coal-based thermal power plants maintain coal stocks of 46.25 MT as of March 20, 2024.
As electricity demand is expected to double by 2030, and coal remains a major source of energy, accounting for 55% of India’s needs, the government is committed to increasing its production.
A plan to achieve 1 billion tonne (BT) coal output by 2023-24 and for Coal India to reach 1 BT by 2024-25 has already been prepared. All India production reached 778.21 MT in 2021-22 and rose to 893.19 MT in 2022-23, reflecting a positive growth of 14.77%.
As per coal ministry data, the government is making strides to reduce coal imports. This fiscal year, imports reached 200.23 MT, compared to 237.67 MT last year. The country mainly imports coking coal for the steel sector to bridge the gap between domestic availability and meet quality requirements.
Other sectors, such as power, cement, and coal traders, import non-coking coal. The ministry, in a statement, said achieving 1 BT in coal and lignite production will ensure homes remain lit even as the coal sector continues to power the economy.
