Coal Ministry Action Plan 2023 – 24 Targets 1012 Million Tonne Coal Production

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Coal Ministry Action Plan 2023 -24 Targets 1012 Million Tonne Coal Production

Ministry of Coal has released its action plan for the financial year 2023-24.

Salient Features of the plan –

  • Coal production is targeted to be increased from the current level of 893 million tonne (MT) to 1012 MT in 2023-24.
  • A Coal Trading Exchange will be launched to facilitate online trading of coal in the domestic market.
  • An asset monetization target of Rs 50,000 crore has been set in FY2024.
  • Technology roadmap for improving safety of mines, extraction of coal, coking coal strategy, closure of mines etc. is also provided.
  • Sustainable initiatives like mine tourism, green initiatives, Corporate Social Responsibility (CSR) were also discussed.

Coal sector in India –

  • India has the fifth largest coal reserves in the world. It is second only to China in coal production.
  • India is one of the largest importers of coal. It sources most of its imports from Indonesia, South Africa and Australia.
  • Coal accounts for about 50 per cent of the total installed power generation capacity in India.

Coal Classification –

  • Anthracite (highest quality): Carbon content up to 80-95 percent is found in it. It is found in some quantity in Jammu and Kashmir.
  • Bituminous: Up to 60-80 percent carbon content is found in it. Some amount of moisture is found in it. Its deposits are mainly in central and eastern India.
  • Lignite: 40-55 percent carbon content is found in it. It is found in Rajasthan, Assam, Tamil Nadu etc.

Source – PIB

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