In the financial year 2022-23, India’s coal production has surged significantly to 893.08 MT, up from 728.72 MT in 2018-19, indicating growth of 22.6 percent over the last five years. Coal India Limited (CIL) has contributed to this increase by producing 703.21 MT, up from 606.89 MT in 2018-19, showing a growth of 15.9 percent. Singareni Collieries Company Limited (SCCL) has also made noteworthy progress, producing 67.14 MT in 2022-23 as opposed to 64.40 MT in 2018-19, with a growth of 4.3 percent. Additionally, captive and other mines have increased their coal production from 57.43 MT to 122.72 MT, displaying impressive growth of 113.7 percent.
To achieve self-reliance and fulfill the demand of various sectors while ensuring sufficient coal stocks at thermal power plants, the Ministry of Coal has implemented various measures to increase domestic coal production. The target for coal production in 2023-24 has been set at 1,012 MT.
Furthermore, the Ministry is actively promoting sustainable development along with coal production by prioritizing environmental protection, resource conservation, societal welfare, and preservation of forests and biodiversity. The Ministry has initiated an integrated approach to eliminate road transportation of coal in mines and is upgrading the mechanized coal transportation and loading system under ‘First Mile Connectivity’ projects.
The Ministry has formulated an Action Plan for 2023-24 to achieve Aatmanirbhar Bharat by improving production, efficiency, sustainability, and new technologies in the coal sector. To enhance coking coal availability in the country and reduce imports, the Ministry has developed a coking coal strategy. The Ministry and coal companies are taking various steps to ensure the supply of quality coal to all consumers.
The project investment target for 2023-24 is Rs 21,030 crore, with CIL, SCCL, NLC India Limited contributing Rs 16,500 crore, Rs 2,880 crore, and Rs 1,650 crore respectively. The overall projected target for the Assets Monetization plan in 2023-24 is Rs 50,118.61 Crore.
In FY 2022-23, the Ministry signed agreements for 23 coal mines with a cumulative PRC of 33.224 MTPA, expected to generate annual revenue of Rs 4,700.80 crores. These mines will provide employment opportunities to 44,906 people. It is anticipated that 25 coal mines will be allocated for commercial mining during FY 2023-24, based on the good response received for the 6th round of commercial auctions.
The Ministry is closely monitoring critical railway line projects for coal evacuation in consultation with the Ministry of Railways. It is also undertaking mapping of the Coal sector on NMP and utilizing Dashboards on NMP. The Ministry has adopted a Coal Logistics Policy/Plan for effective and eco-friendly coal transport, recognizing the significance of logistics in the coal supply chain.
To promote clean coal technology, the Ministry has initiated various initiatives such as Coal to Hydrogen, Coal & Lignite gasification, and CBM/CMM. As part of its diversification initiatives, Coal India Limited is expanding its core business and exploring new business areas such as aluminium, power, solar wafer, solar power, and renewable sources for sustainable future business operations.