The Coal and Mines ministry has said that India’s coal output is expected to cross one billion tonnes in the ongoing financial year. The country's production target of the coal for 2023-24 is 1,012.14 million tonne (MT). The estimated coal demand for 2023-24 is 1196.60 MT. During 2024-25, the country is expected to produce 1104.10 MT of coal, which includes 850 MT by Coal India (CIL), 181.6 MT by captive and others and 72.50 MT by Singareni Collieries Company (SCCL).
In order to meet the energy requirements of country, the Government has undertaken several initiatives to scale up domestic coal production. Therefore, as against the increased coal demand, domestic coal production has also increased. In 2022-23, the domestic coal production increased by 14.77% to reach 893.19 MT from 778.21 MT in 2021-22.
Further, in the current financial year, till November 2023, the country has produced about 591.40 MT of coal as compared to 524.72 MT during the same period of last year with a growth of about 13%. As a result of increase in domestic production, the coal import has declined by 5% during April to September 2023 in the current financial year compared to the same period of last financial year. This shows a reduction in import dependency of coal in the country.
The total coal consumption in the coal-based power plants of the country has increased from about 608 MT during 2017-18 to about 777 MT during 2022-23 with a compound annual growth rate (CAGR) of about 5%.
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