Coal India to produce 1 billion tons of coal by 2024

On November 2, 2019, the coal Ministry has announced that Coal India Limited (CIL) will produce 750 million tons of coal by the end of financial year 2020-21. It will further increase the coal production to 1 billion tons by 2023-24.

Currently CIL has a target of 660 million tons of coal production. This is 82% of country’s coal output.

Highlights

  • At the 45th Foundation Day of CIL, the Minister of Coal and Mines announced the above target. Also, the ministry is to boost new jobs by 10,000.
  • Coal India Limited is to get associated with Jal Shakti Abhiyan to conserve water and provide treated mine water to the populace in and around mining areas.
  • Under the Corporate Social Responsibility  the CIL will participate in Tuberculosis Eradication Programme of GoI and will help eradicate the disease in and around mining areas.

Significance

  • As the demand for power is rising steeply, there is enough opportunity for both government and private sectors to produce coal without adversely impacting each other.
  • With government’s recent decision of 100% FDI (Foreign Direct Investment) in coal sector, the coal import will be greatly minimized.

 

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