1. Home >
  2. Export Import News >
  3. Import News >
  4. India’s coal production to clock record 700 million tonnes in FY21: Anil Jain >
  5. India’s coal production to clock record 700 million tonnes in FY21: Anil Jain

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

India’s coal production to clock record 700 million tonnes in FY21: Anil Jain.

Date: 11-05-2020
Subject: India’s coal production to clock record 700 million tonnes in FY21: Anil Jain
India will produce a record 700 million tonnes of coal in the current fiscal ending March 2021, helping cut down on imports, Coal Secretary Anil Jain said. India produced 602.14 million tonnes of coal in 2019-20 fiscal, marginally lower than 606 million tonnes output in the previous year.

“We are on track to producing 700 million tonnes of coal in 2020-21 fiscal,” Jain told PTI in an interview.

This record output will help stop most of substitutable coal imports, he said.

India imports 235 million tonnes of coal annually. About half of this is non-substitutable as they are tied to the power plant or user factories, but the rest can be cut down, he said.
“We will able to cut substitutable coal imports with this rise in production,” he said.

Prime Minister Narendra Modi has set a target to expand the country’s economy to USD 5 trillion by 2024, from USD 2.9 trillion currently, and reducing energy imports and harnessing domestic resources are key to meeting that goal.

To meet the import reduction goal, state miner Coal India Ltd is targeting to raise its annual output to 1 billion tonnes by fiscal year 2024.

Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.

Power plants, which are key coal users, have stocks as high as 30-days due to the coronavirus lockdown,?he said.
The lockdown shut factories and offices, slashing electricity demand by about a quarter, thus affecting the use of coal and causing inventories to swell to record levels.

Coal India Ltd has stocked up a record 75 million tonnes at its mines while power station inventories have surged to 44.7 million tonnes, the highest in data going back to 2008.

The combined inventories are more than the two-month average of production at Coal India last fiscal.

The demand for coal, he said, will pick up again after the lockdown is lifted. Jain said coal production in April was about 40 million tonnes, down from 45 million tonnes a year back.

Coal’s share in India’s electricity generation is estimated to come down to 50 per cent by 2030 from about 72 per cent now.

Source:- financialexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 25-08-2020

Date: 06-07-2020
Notification No. 29/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, to increase the rate of duty of customs on imports of Phthalic Anhydride originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement, on recommendation of preliminary findings of Directorate General of Trade Remedies under India-Korea Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017.

Date: 02-07-2020
Notification No. 55/2020 - Customs (N.T.)
Exchange Rates Notification No.55/2020-Custom (NT) dated 02.07.2020.

Date: 01-07-2020
Notification No. 58/2020 – Central Tax
Seeks to make eighth amendment (2020) to CGST Rules

Date: 30-06-2020
Notification No. 54/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 30-06-2020
Circular No.31/2020-Customs
Extension of validity of AEO certification for ease of renewal process (Modification in Circular No. 27/2020 dated 02.06.2020) [Circular No. 31/2020 - Customs dated 30.06.2020].

Date: 30-06-2020
Notification No. 57/2020 – Central Tax
Seeks to amend notification no. 52/2020-Central Tax in order to provide conditional waiver of lat fees for the period from July, 2017 to July, 2020.

Date: 30-06-2020
PUBLIC NOTICE No. 11/2015-2020
Extension of validity of Recognition of Pre-shipment Inspection Agencies (PSIAs

Date: 29-06-2020
Trade Notice No. 17/2020-2021
Procedure and Criteria for submission and approval of applications for export of PPE Medical Coveralls for COVID-19

Date: 27-06-2020
Notification No. 55/2020 – Central Tax
Seeks to amend notification no. 35/2020-Central Tax in order to extend due date of compliance which falls during the period from "20.03.2020 to 30.08.2020" till 31.08.2020.

Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001