The Ministry of Coal is making strides in its efforts to support India’s energy demands, in line with Prime Minister Shri. Narendra Modi’s vision of Atma Nirbhar Bharat. One of the ways the ministry is doing this is by holding an interactive session with coal block allottees of captive and commercial coal blocks on April 12th, 2023, in New Delhi.
The session will highlight the significant reforms that the Ministry of Coal has implemented to make the coal sector more attractive to investors. It will also seek feedback and suggestions from all stakeholders to expand domestic coal production, reduce the country’s reliance on imported coal, and improve the ease of doing business.
The Ministry of Coal has successfully completed six tranches of commercial coal mines auctions, with a total of 87 coal mines successfully auctioned, having a cumulative Peak Rate Capacity of 220.52 Million Tonne per Annum (MTPA). This has generated an estimated annual revenue of Rs. 33,231 crore. In addition, the Ministry of Coal has achieved a coal production of 115.77 MT from captive and commercial coal mines for the year 2022-23.
During the session, the Ministry of Coal will review the actual coal production for the fiscal year 2022-23, as well as production targets for the year 2023-24. The event will be chaired by Shri Amrit Lal Meena, Secretary of the Ministry of Coal, with Shri M. Nagaraju, Additional Secretary & Nominated Authority, also present.
Reforms to Make Coal Sector More Appealing
The Ministry of Coal has implemented significant reforms to make the coal sector more appealing to investors. One of the most noteworthy reforms is the launch of the first-ever tranche of commercial auctions of 38 coal mines on June 18, 2020, under the CM(SP) Act, 2015 and MMDR Act, 1957.
Through these reforms, the Ministry of Coal has successfully auctioned 87 coal mines, generating an estimated annual revenue of Rs. 33,231 crore, with a cumulative PRC of 220.52 Million Tonne per Annum (MTPA). These auctions have provided a significant boost to India’s coal production.
Interactive Session for Stakeholders
The interactive session with coal block allottees of captive and commercial coal blocks aims to gather feedback and suggestions to further improve the coal sector in India. The session will provide an opportunity for stakeholders to share their thoughts on how to expand domestic coal production and reduce the country’s reliance on imported coal.
The Ministry of Coal is committed to supporting India’s energy demands and is taking steps to ensure that the coal sector remains attractive to investors. The interactive session is an important step in this direction and will provide valuable insights into how the ministry can continue to support the growth of the coal sector. ( INVC NEWS )