Indian Economy News

Overall Coal Stock Reaches 88.01 MT Registering an Increase of 24.7%

The Ministry of Coal continues to make significant progress in achieving the 'Aatmanirbhar Bharat' vision by guaranteeing energy security and increasing coal production. The Ministry has reached key milestones that demonstrate its commitment to achieving these objectives.

The Ministry's commitment to maintaining an uninterrupted coal supply remains unwavering. The entire coal stock position, i.e., at mines, TPPs (DCB), transit, etc., reached 88.01 MT on August 23rd, 2023, representing a significant rise of 24.7% above the stock of 70.61 MT on August 23rd, 2023. The Ministry of Coal's increased coal stock position demonstrates its commitment to maintaining an adequate supply of coal.

Furthermore, the Pithead Coal Stock at Coal India Limited (CIL) as of August 23rd, 2023, is 46.13 MT, representing a 45.5% increase over the stock of 31.70 MT on August 23rd, 2023. This growing trend demonstrates the importance of excellent inventory management systems and operational efficiency. As of August 23rd, 2023, the cumulative achievement for the 2023–24 in terms of coal dispatch to the power sector stood at 307.97 MT, representing a notable growth rate of 5.6% compared to the corresponding period of the previous year. This achievement ensures a consistent supply of coal to meet the energy needs of the power sector.

Overall, Cumulative Coal Production for 2023-24 has shown tremendous growth, with 340.31 MT produced up to August 23rd, 2023, indicating a 10.52% increase over the previous year's 307.92 MT produced up to August 23rd, 2023. Furthermore, the overall coal dispatch has increased significantly, reaching 371.11 MT by August 23rd, 2023.

This indicates a commendable growth rate of 9.58% over the previous year's export of 338.66 MT until August 23rd, 2023. The Coal Ministry is taking all necessary steps to foster long-term growth in the coal sector, including thorough strategic planning and effective implementation, in order to improve domestic coal production capacity. These measures are intended to boost the power industry in order to fulfil the nation's rising energy demands.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.