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

Tags: Economy/Finance National News

The Ministry of Coal has prepared an action plan for the financial year 2023-24 with the aim of making Atmanirbhar Bharat by increasing production, efficiency, sustainability, new technologies etc. in the coal sector.

Action Plan for the FY 2023-24

Coal Analytics

• Coal Production - The total coal production target of 1012 MT for FY 2023-24.

• Outsourcing of Mines- Various steps to increase coal production and efficiency like Mining Developers cum Operators (MDO).

• Coking Coal Strategy – Ministry of Coal has formulated a coking coal strategy to enhance coking coal availability in the country to reduce imports.

• Quality of Coal - Various measures to achieve the objective of supply of quality coal to all consumers.

Private Investment

• CAPEX and Asset Monetization -The overall projected target of Assets Monetization plan for FY 2023-24 is Rs 50,118.61 Crores.

• Commercial Mining - During FY 2022-23, the Ministry signed agreements for a total of 23 coal mines having cumulative PRC of 33.224 MTPA.

Infrastructure Projects

• PM Gatishakti National Master Plan– Ministry of Coal is closely monitoring the new railway line projects that are critical for coal evacuation.

• Coal Evacuation- FMC & Railway Lines – Ministry of Coal has adopted a Coal Logistics Policy/Plan for effective and environmentally friendly transport of coal.

Safety in Mines

• The Ministry of Coal reaffirms its commitment to the best safety standards and utmost priority to the safety in Coal Mines.

• Scientific closure of Mines – To restore the ecological balance in the mined-out areas, mine closure activities will begin this year.

Technology Push to Coal

• Technology roadmap in the Coal sector - Ministry is going to circulate the Monitoring framework for coal companies towards Implementation of Technology Roadmap.

• Coal to Chemical– Various initiatives like Coal to Hydrogen, Coal & Lignite gasification, CBM/CMM etc.

• Diversification of Coal India Limited (CIL)– Coal India Limited is being diversified for sustainable future business operations like New Business Areas (Aluminium, Power, Solar wafer, Solar Power & Renewable) etc.

Sustainability in the coal sector

• The Ministry of Coal envisages promoting a sustainable development model in which coal production goes hand in hand with measures for environment protection, resource conservation, care for society and protection of forests and biodiversity.