India's coal production increased by 8.55 per cent to 223.36 million tonnes in the April-June quarter of 2023-24 compared to the year-ago period, an official statement said on Friday. Coal production was 205.76 million tonnes (MT) in the same period during FY 2022-23, the Ministry of Coal said.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Coal India Limited (CIL) registered 175.48 MT production between April and June 2023, marking a commendable growth rate of 9.85 per cent in comparison to 159.75 MT during the corresponding period of the previous year.

The rest came in from other captive mines.

While coal imports increased by 16.76 per cent in April-May 2023 as compared to the same period in the previous year, it is important to note that this rise is primarily attributable to the substantial decline in coal import prices, the ministry said.

Import prices for coal have plummeted by over 60 per cent in the first quarter of FY24, compared to the year-ago period.

"There is enough stock of coal available in the country which is 107.15 MT (67 MT with coal companies, 33.61 MT with thermal power plants (TPPs) and 6.54 MT at private washeries/good shed siding/ports) during the end of June 23, indicating a growth of 37.62 per cent as compared to the same period of last year," the ministry said.

India's achievement in coal production reflects the concerted efforts of the coal industry and its commitment to meeting the growing energy needs of the nation, it said.

India has set a coal production target of 1,012 MT for FY 2023-24.