With a focus on becoming self-reliant, India on Wednesday said the country is targeting production of 1,012 million tonnes (MT) of coal this financial year (FY24),

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According to the action plan prepared by the coal ministry, the capex target for FY24 is Rs 21,030 crore (CIL: Rs 16,500 crore, NLCIL: Rs 2,880 crore and SCCL: Rs 1,650 crore). The overall projected target of the asset monetisation plan for FY24 is Rs 50,118.61 crore.

In the previous fiscal, the ministry had signed agreements for 23 coal mines with a cumulative output of 33.224 million tonnes per annum, and these mines are expected to generate an annual revenue of Rs 4,700.80 crore calculated at PRC (Peak Rated Capacity).

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These mines are expected to provide both direct and indirect employment to 44,906 people. Considering the good response received for the sixth round of commercial auctions, it is expected that 25 coal mines will be allocated during FY24 for commercial mining, the ministry said.

In order to increase coal production and efficiency, the ministry is engaging Mining Developers-cum-Operators (MDOs) for the operationalisation of CIL mines, or blocks, and production in discontinued/abandoned mines on a revenue-sharing basis.

For undertaking the job of sampling and analysis of coal samples at the loading end, third-party agencies have been empanelled for both power and non-power coal consumers.

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Further, the coal ministry is going to circulate the monitoring framework for coal companies towards the implementation of a technology roadmap in digitisation and integration of sub-systems, use of new technology (drones, remote sensing), and blast-free coal mining to promote efficiency, safety, and the environment.

First Published:May 3, 2023 5:07 PM IST