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.

Please Rate this article, so that we can improve the quality for you -