India saw historic growth in coal output, says Pralhad Joshi as FY23 ends | Mint
Active Stocks
Mon Feb 26 2024 15:59:59
  1. Tata Steel share price
  2. 142.60 -1.99%
  1. Power Grid Corporation Of India share price
  2. 287.75 1.97%
  1. HDFC Bank share price
  2. 1,422.25 0.10%
  1. ITC share price
  2. 409.20 -0.58%
  1. State Bank Of India share price
  2. 759.00 -0.05%
Business News/ News / India/  India saw historic growth in coal output, says Pralhad Joshi as FY23 ends
BackBack

India saw historic growth in coal output, says Pralhad Joshi as FY23 ends

India has recorded historic growth in its coal output at 982.21 million tonnes in 2022-23.

Production of coal rose by 8.5%. mintPremium
Production of coal rose by 8.5%. mint

Union Minister Pralhad Joshi said on Saturday that the country had seen a ‘historic’ growth in its coal output during the recently concluded financial year. As per official data, the country's coal production stood at 892.21 million tonnes in 2022-23 - up 14.65% from the 778.21 MT produced in the 2021-22 fiscal.

“This is a historic moment for the coal sector. I congratulate all the coal warriors and stakeholders for the record growth. Despite the stiff targets, CIL, SCCL, along with captive and commercial mines have produced more than 892 MT of coal in FY23," Joshi said. 

"Coal sector's contribution to the growth of the economy is powering the rise of India under the leadership of PM Narendra Modi and we will continue to meet the growing energy demand of the nation," he said.

ALSO READ: As summer looms, India orders coal power plants to max out

According to Joshi, several companies had surpassed their FY23 targets. The captive and commercial mines producers also produced 121.88 MT coal - up 34.59% from the preceding financial year.

Coal India produced 703.20 MT of coal - up 12.94% from 622.63 MT in 2021-22.

Singareni Collieries Company Limited produced 67.14 MT as against 65.02 MT a year ago, registering a rise of 3.25%. 

ALSO READ: India’s FY23 coal production huts 892.21 million tonne

In spite of the elevated numbers however, the power ministry has asked power plants to import coal for the upcoming months as domestic output may not be sufficient. 

Preparations are presently underway for a spike in temperatures, with the Met department forecasting ‘above normal maximum temperatures’ and heatwave days. The power ministry predicts that peak electricity demand will climb to a new record in April as people crank up their air conditioners, fans and refrigeration units. 

(With inputs from agencies)

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 02 Apr 2023, 12:01 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App