Budget 2024: Coal gasification, liquefaction of 100 metric tonnes to be set up by 2030: FM Nirmala Sitharaman

Coal gasification and liquefaction of 100 metric tonnes will be set up by 2030, Finance Minister Nirmala Sitharaman said on Thursday. In January, the government approved an outlay of Rs 8,500 crore as financial assistance for promoting coal and lignite gasification projects.

The government has also approved setting up of a coal-to-SNG (Synthetic Natural Gas) project through a joint venture between Coal India and GAIL at an investment of Rs 13,052.81 crore and a coal-to-ammonium nitrate project through a joint venture between CIL and BHEL for Rs 11,782.05 crore.

The decision is a significant step as it helps reduce the import of chemicals, which can be derived through coal gasification. She said India has received a Foreign Direct Investment (FDI) inflow of USD 596 billion since 2014, which is double the inflow between 2004 and 2014. She added that the government has launched Blue Economy 2.0 to promote aquaculture in the country.