There is an air of confidence of the Coal inventory growing higher to 155 Million Tonnes by 31st March.
India’s coal and lignite production surged past 1 billion tonnes by March 22, surpassing the previous fiscal year’s output by 25 days, states data from the coal ministry. Concurrently, coal companies possess 96 million tonnes of coal stocks. Domestic coal-powered thermal plants maintain 48.2 million tonnes, adequate for 21 days, according to ministry records. Coal India reports 82.3 million tonnes of coal stocks as of March 22.
“This ample coal reserve ensures uninterrupted power supply across the nation, a crucial factor in sustaining economic activities and meeting the escalating electricity demand, especially during peak consumption periods,” the ministry said.
The coal ministry has set a target of achieving 1 billion tonnes of production by the end of the current fiscal year. Additionally, it anticipates coal inventory to reach 155 million tonnes by March 31. Furthermore, the ministry noted a decrease in coal imports, with the share dropping to 21% from April to January compared to the previous year’s 22.48%. Moreover, the volume of coal imported for blending by thermal power plants saw a significant reduction of 36.69%, totaling 19.36 million tonnes during April to January, in contrast to the corresponding period in the previous year.
“India’s achievement of surpassing the 1 billion tonnes mark in coal and lignite production not only strengthens the country’s energy security but also reduces its dependence on coal imports, leading to substantial savings in foreign exchange reserves,” said the ministry.
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