Home Business Govt raises Coal India’s output target to 5% for 2018-19

Govt raises Coal India’s output target to 5% for 2018-19


(G.N.S) Dt. 06
New Delhi
The government has raised Coal India’s production target by 5% to 630 million tonnes (mt) in 2018-19 from 600 mt in the current financial year, coal minister Piyush Goyal told the Rajya Sabha on Friday. In a written reply, the minister said against the target of 408.6 mt, Coal India produced 385.6 mt of coal till January 1 in the ongoing fiscal. From the production level of 554 mt in 2016- 17, the company is envisaged to raise its coal output to one billion tonne by 2020.
Goyal said Coal India has identified mines with production capacity of 908 million tonne so far. Considering the demand of coal from various segments, while finalising the annual plan for 2017-18, Coal India was given the offtake target of 600 mt by the coal ministry.
In the April-December period of 2017, total offtake stood at 421.41 mt, the minister said. To achieve the annual target, Coal India is required to increase its daily production to more than 2 mt during the remaining period of the ongoing financial year. The minister also said that coal imports have fallen from 217.78 mt in 2014-15 to 203.95 mt in 2015-16, and further to 190.95 mt in 2016-17. The falling trend in coal imports has continued in 2017-18.
As per the statistics released by Directorate General of Commercial Intelligence & Statistics, during the April-October period of 2017, 118.86 mt of coal was imported as compared to 121.14 mt in the corresponding period of 2016-17, showing a decline of nearly 2%. Coal India has also taken various steps for promotion of import substitution through rationalisation of supply source, including partly supplying higher grades to consumers.
Coal from various sources including, higher grades, were offered through various types of e-auction with ease-of-business initiatives like flexible tenure of lifting consignments, reduction of earnest money deposit and floor price to cater to requirement of various consumers including power plants without fuel supply agreement with Coal India.

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