Coal India to produce 1 billion tonnes of coal by FY24

Kolkata: For Coal India Limited (CIL), the government has set a production target of 750 million tonnes by financial year 2020-21 and 1 billion tonnes of coal by financial year 2023-24. Minister of Coal Pralhad Joshi made the announcement during his address at the 45th Foundation Day of the public sector undertaking (PSU) in Kolkata on Friday.

CIL currently produces 82% of India's coal output

CIL currently produces around 660 million tonnes of coal that amounts to 82 percent of the country's coal output. The CIL is also likely to offer around 10,000 new jobs to boost employment. Joshi directed the PSU to take necessary steps to achieve this goal in light of growing energy requirements of the nation and assured Coal India of all possible help from the Ministry of Coal in this regard.

"It is heartening to know that Coal India has planned for huge capital investments for its works and expansion programmes, along with bringing in new technologies in its operations.
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The company will also be hiring personnel and I am hopeful that it will achieve all assigned goals on time," Joshi said.

'Ample opportunity for both public and private sector'

Joshi said that with the demand for power rising steeply, there is enough opportunity for both government and private sectors to produce coal without adversely impacting each other. Referring to the Central government's recent decision of allowing 100 percent FDI under automatic route in coal sector as one of the much-needed structural reforms in the sector, he said that it will minimise the volume of coal import and will be mutually beneficial. The minister sought to allay the fears of domestic players and labour unions by reiterating that FDI in coal does not stand for FDI in CIL.

'Coal India should associate itself with Jal Shakti Abhiyan'

During his address, the minister urged Coal India to get associated with Jal Shakti Abhiyan to conserve water and provide treated mine water to the populace living in and around coal mining areas. On the Prime Minister's call for eradication of Tuberculosis (TB) from India by 2025, the minister appealed to CIL to eradicate TB in and around coal mining areas by 2024 under its Corporate Social Responsibility (CSR) programme.

The minister also enumerated the milestones in policy reforms of the government like the introduction of e-auction for allocation of captive coal blocks, Scheme for Harnessing and Allocating Koyala Transparently in India (SHAKTI), third party sampling of coal, re-gradation of coal mines in India etc. Coal India CMD Anil Kumar Jha, along with senior officials and trade union leaders, participated in the event.