India Achieves Major Success In Coal Import Reduction Despite Increase in Power Demand

India Achieves Major Success In Coal Import Reduction Despite Increase in Power Demand

New Delhi, February 10 (TNA) The import of Non Coking coal primarily used in power sector has decreased by 57.59% from 46.53 MT to 19.73 MT upto Nov, 2021 in comparison to the same period of FY 20 which has opened the doors to become self-reliant in coal production.

The overall import of coal has also reduced to 147.14 MT in the period from April to November 2021 compared to 165.57 MT during the corresponding period of FY 20, a decrease of about 11.13% which has resulted in significant savings of forex reserves this year especially when the coal prices are at a high level in the international market.

India is the world’s third largest energy consuming country and electricity demand grows by 4.7% each year. To reduce the dependence on imports of coal, major reforms have been carried out by the Ministry of Coal with the vision of “Atma Nirbhar Bharat”.

The Ministry has also amended the Mineral Concession (Amendment) Rules, 1960 under MMDR (Amendment) Act, 2021 to allow lessee of captive mines to sell coal or lignite up to 50% of the total excess production after meeting the requirements of the end-use plant.

Related Stories

No stories found.
The News Agency
www.thenewsagency.in