India’s coal production grew 8.4% during the first quarter of the fiscal year 2023-24 to 222.93 million tonne (MT), the Ministry of Coal said in a statement on Monday.
According to the data released by the ministry, the country’s coal production stood at 205.65 MT during the same period in the previous fiscal year.
“Coal India Limited (CIL) has recorded an impressive growth of 9.85%, with production reaching 175.35MT in FY 2023-24 as compared to 159.63 MT during the same period the previous year. Captive mines /others also saw a growth of 4.74 % touching 30.48 MT in FY 23-24 as compared to 29.10 MT in FY 22-23 during the same period,” the ministry said.
These accomplishments have contributed to the overall positive momentum in the sector, it added.
The surge in coal production has not only boosted overall production but also positively impacted coal dispatches across the country. Cumulative coal dispatches during Q1 of FY 2023-24 reached 239.69 MT (Provisional), showcasing a growth rate of 6.97% compared to 224.08 MT dispatched in Q1 of FY 2022-23. CIL played a crucial role in meeting the growing demand for coal, with dispatches reaching 186.21 MT in Q1 of FY 2023-24, a growth rate of 5.32% from the 176.81 MT dispatched during the same period in the previous year.
Additionally, Singareni Collieries Company Limited (SCCL) and captive mines/others recorded dispatch figures of 18.07 MT and 35.41 MT respectively in Q1 of FY 2023-24, reflecting growth rates of 4.45% and 18.16% as compared to the corresponding period in FY 2022-23.
Furthermore, the upturn in offtake has resulted in a comfortable coal stock position. The total coal stock as on 30 June 2023 has recorded remarkable growth reaching at 107.15 MT (provisional) as compared to 77.86 MT as on 30 June 2022, reflecting a growth of 37.62%. This growth indicates the continued efforts to meet rising demand of coal.
The sustained efforts of the ministry of coal towards enhancing coal production and ensuring seamless dispatch underscores India’s persistence in meeting its energy demands and fostering continuous economic growth.
These positive developments position the nation favourably and contribute to driving the positive trajectory of the country’s energy sector, reinforcing the commitment towards providing uninterrupted power supply and paving the way for Aatmanirbhar Bharat, it added.