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More than Rs 3.85 trillion spent on coal imports last year: Govt data

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More than Rs 3.85 trillion spent on coal imports last year: Govt data

Posted on : 20-10-2023 | Author : Press Trust of India

Photo by Business Standard

The Indian government revealed that the country spent over Rs 3.85 lakh crore on coal imports in the previous year. Although the share of coal imports in the total consumption has decreased from 26 percent to 21 percent in the last five years, India continues to import more than 200 million tonnes (MT) of coal annually, resulting in significant foreign exchange outflows.

The goal of the coal ministry is to boost coal production to ensure an adequate coal supply for the rapidly growing Indian economy. As a result of these efforts, the share of imports in total consumption has decreased from 26 percent to 21 percent over the last five years.

The ministry also expressed its deep concern for protecting forests and clarified that no coal mine auctions have been conducted that ignore the suggestions of the environment ministry. For instance, the plea of Chhattisgarh to de-notify coal mines situated in the Lemru Elephant Corridor has been accepted. Additionally, areas beyond the Lemru Elephant Corridor have been considered for exemption upon the request of the state government.

The Ministry of Coal has decided to exclude more than 40 new coal blocks, representing approximately 10 percent of Chhattisgarh's reserves, from coal mining. Furthermore, nine coal mines located in the dense Hasdeo-Arand coal field have been excluded from further rounds of coal block auctions. Similarly, the request from Tamil Nadu to exclude three lignite mines from future auction processes has also been accepted. These decisions underscore the ministry's commitment to protecting forested areas, even in the face of industry demands to place them under auction.