Indian Economy News

The Coal Ministry achieved a record transportation of 500 MT of coal during the first half of the current fiscal

The Coal Ministry had set a target of producing and shipping 1,012 million tonnes (MT) of coal to consumers in FY24. The Ministry was able to ship 500 MT of coal as of October 17, 2023, setting a new record for performance. 500 MT of coal was dispatched in 200 days during the monsoon season in the first half of the year, which is an incredible accomplishment.

The rate of production and dispatch in the second half of the year is typically higher than in the first. Therefore, it is anticipated that the amount of coal dispatched this year will surpass one billion tonnes. The 500 MT coal dispatch milestone was reached on November 9, 2022, of the previous fiscal year. Thus, it has taken 23 days to reach the 500 MT dispatch barrier this year.

It should be noted that 416.57 MT of the 500 MT of coal dispatched was for the power sector, and 84.77 MT was for the non-regulatory sector. The growth of coal transport to the power sector year-over-year is 7.27% and growth to the non-regulated sector year-over-year is 38.02%. As of March 31, 2023, 893.19 million tonnes of coal had been dispatched last year.

It is important to note that the Coal Ministry's historical accomplishment has been made possible by the efforts of Coal India Ltd. (CIL), Singareni Collieries Company Ltd. (SCCL), and captive/commercial mines.

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