india-exceeds-1-billion-tonnes-of-coal-output-joshi

India has surpassed the remarkable milestone of producing 1 billion tonnes of coal and lignite during the financial year 2023-24, announced Union Coal and Mines Minister Pralhad Joshi on Monday.

 

Official figures indicate that India's coal and lignite output stood at 937 million tonnes (MT) in the preceding fiscal year of 2022-23.

 

Joshi attributed the success to the leadership of Prime Minister Modi, highlighting it as a pivotal moment for India that ensures energy security for the nation. He emphasized that this record-breaking production signifies a monumental stride, further ensuring that the nation will not encounter coal shortages in the foreseeable future.

 

Joshi extended his gratitude to officials, coal industry workers, and private miners for their dedication and tireless efforts in achieving this milestone. He noted a remarkable 70 per cent growth in production over the past decade, attributing it to their relentless commitment.

 

Joshi also outlined the nation's ambitious target to eliminate coal imports by 2025-26, indicating significant progress towards this goal. He highlighted a reduction in coal imports for blending purposes in FY24 compared to the previous fiscal year, resulting in substantial savings amounting to Rs 82,264 crore.

 

According to official data, the combined coal and lignite production for FY24 reached 1,039.57 MT, with despatches totaling 1,016.71 MT. Notably, coal production witnessed an 11.67 per cent increase from the previous fiscal year, while lignite production experienced a slight decrease.

 

The coal production's compound annual growth rate (CAGR) since 2013-14 stands at 5.83 per cent, indicating consistent progress in the sector.

 

Additionally, coal despatches recorded notable growth, surpassing previous records, and signaling a robust performance in logistics efficiency.

 

A significant portion of coal dispatches, particularly 805.35 MT, was allocated to the power sector, witnessing an 8.16 per cent growth compared to the previous fiscal year. 

 

Railways played a pivotal role in facilitating coal transportation, demonstrating a notable increase in daily rakes supplied during FY24. The implementation of First Mile Connectivity Projects further optimized coal transportation, enhancing overall logistics efficiency in an eco-friendly manner.