financetom
Economy
financetom
/
Economy
/
India's coal production likely to be over a billion tonnes for FY24
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
India's coal production likely to be over a billion tonnes for FY24
Jan 18, 2023 8:45 AM

The government on Wednesday said that it has set a coal production target of more than one billion tonnes (BT) for the next financial year. Of the said target, state-owned CIL has been given the task to produce 780 MT of coal, followed by 75 MT for Singareni Collieries Company Ltd (SCCL) and 162 MT for captive and commercial mines.

Share Market Live

NSE

”The ministry of coal targets to produce more than one billion tonne coal during the year 2023-24,” the coal ministry said in a statement. In a bid to achieve this aim, in-depth review has been carried out by coal secretary Amrit Lal Meena with all coal companies.

A total of 290 mines are operational in Coal India Ltd (CIL) out of which 97 mines produce more than one MT per year. For all 97 such coal mines, issues of land acquisition, forest clearance, environment clearance, rail connectivity and road connectivity have been discussed and timelines fixed.

With the continued effort of coal companies, out of 97 coal mines, there are no pending issues in 56 mines. Only 41 mines have 61 issues, for which continued co-ordination and monitoring are being carried out by top management of coal companies with concerned state government authorities and the central ministries.

CIL produced 622 MT of coal during FY22 and 513 MT have been produced so far in the current financial year.

It is expected that CIL will surpass the target of 700 MT fixed for current fiscal and accordingly will achieve 780 MT for the year 2023-24. CIL accounts for over 80 per cent of domestic coal production.

Also Read: India’s population may have already overtaken China’s

First Published:Jan 18, 2023 5:45 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
IMF Raises 2025 Global, US Economic Growth Outlooks, Flags Protectionism-Related Risks
IMF Raises 2025 Global, US Economic Growth Outlooks, Flags Protectionism-Related Risks
Jan 17, 2025
12:23 PM EST, 01/17/2025 (MT Newswires) -- The International Monetary Fund on Friday increased its global and US economic growth expectations for this year, but said the balance of risks to the overall outlook is tilted to the downside in the medium term. The agency now projects 2025 global real gross domestic product growth at 3.3%, up from a 3.2%...
Federal Reserve withdraws from global regulatory climate change group
Federal Reserve withdraws from global regulatory climate change group
Jan 17, 2025
WASHINGTON (Reuters) -The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system. In a statement, the Fed said it was exiting the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) because its increasingly broadened scope...
Industrial Production Accelerates More Than Expected in December
Industrial Production Accelerates More Than Expected in December
Jan 17, 2025
01:00 PM EST, 01/17/2025 (MT Newswires) -- US industrial production rose more than expected in December while the pace of manufacturing output accelerated, data from the Federal Reserve showed Friday. Industrial output rose 0.9% last month following a 0.2% increase in November. The consensus was for a 0.3% increase in a survey compiled by Bloomberg. Annually, industrial production gained 0.5%...
US will hit debt limit on Tuesday, Yellen says in letter
US will hit debt limit on Tuesday, Yellen says in letter
Jan 17, 2025
WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen said that the government would reach its statutory borrowing limit on Tuesday and would begin employing extraordinary measures to keep from breaching the cap and triggering a potential catastrophic default. Yellen, in a letter on Friday to congressional leaders just three days before the Biden administration turns over U.S. government control to...
Copyright 2023-2026 - www.financetom.com All Rights Reserved