India eyes 1 billion tonnes of coal production next year: FM Sitharaman

On coal production by the state-owned companies, the FM said, Coal India Limited production has gone up between 2013-14 and 2022-23. "The capital expenditure

The total coal production in January 2024 rose to 99.73 million tonnes (MT). It was a 10.3% surge over the 90.42MT in the corresponding period a year ago, as per the Ministry of Coal.

From April to January of the current fiscal year, coal production surged by 12.18%, reaching 784.11 MT (provisional), up from 698.99 MT in the corresponding period last year.

In the first eight months (April-November) of FY24, India imported 169.08 MT of coal, a decrease from 237.67 MT in FY23, 208.63 MT in FY22 and 215.25 MT in FY21.

As per a draft note of the Niti Aayog dated March 21, 2022, plans were being made to increase Coal India's production to 1 billion tonnes per annum by the financial year 2025.

“The focus of the government is on increasing the domestic production of coal and to eliminate non-essential imports of coal in the country. Most of the requirements of coal in the country are met through indigenous production/supply," Coal Minister Pralhad Joshi said in a written reply to Rajya Sabha.

Referring to the coal scam during UPA, Nirmala Sitharaman also cited the CAG report highlighting that it resulted in a huge loss of ₹1.86 lakh crore to the country and the Supreme Court had to cancel licences for 214 coal blocks.

The coal scam resulted in job losses and created coal shortages and power outages, she said, adding that investments too suffered.

"On the other hand, the Modi government transparently conducted coal auctions and now coal production has increased to 900 MT from 567MT in 2014," said Sitharaman.