The imports of coal fell by around 5% to 35.85 million tonnes (MT) in April-May this fiscal as compared to 37.72 MT in April-May 2015. The drop in imports was on account of increased production in domestic market. Coal India’s increased production leads to reduction in coal imports.
As per information provided by Coal Secretary Anil Swarup, the government saved Rs 4,285 crore ($631.21 million) equivalent of foreign exchange due to the lower imports in the first two months of the fiscal year to March 2017.
The secretary notified that demand of coal in the country is not growing at the pace it was envisaged and expressed hope that Uday scheme will help boost the demand for the dry fuel in the days to come.