The union power ministry on Friday revised the mechanism for use of coal by private power producing stations on Friday, amid fears of a new power crisis that might engulf Asia's third-largest economy.
The ministry of power noted in an official statement that extending the coal supply period from one year to three years has provided power plants more visibility. The government has further also made changes to the bidding procedure timetable, which has been lowered from 67 to 37 days.
Measures have been taken to ensure that coal is used more efficiently, and a course of action has been determined to make the most use of the railway infrastructure in order to get the most coal to the power plants. According to the power ministry, this will allow states to make the best use of their own coal in facilities closer to the mines.
"The government has taken these measures in order to optimally utilise the railway infrastructure for maximum transportation of coal to the power plants," noted a statement given by the Ministry.
Also read:
(Edited by : Anand Singha)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Supreme Court refuses plea seeking 6-year poll ban on PM
May 14, 2024 7:14 PM
Punjab Lok Sabha elections 2024: A look at BJP candidates
May 14, 2024 7:06 PM
Lok Sabha polls: EC disposes of 90% complaints related to MCC violations
May 14, 2024 4:45 PM
Jharkhand Lok Sabha elections 2024: All about INDIA bloc candidates
May 14, 2024 2:52 PM