New Delhi 31th July 2024: India’s energy sector receives a major shot in the arm as the country’s coal production is up by 11. 65 percent in the current financial year 2023-24 itself this facts underlines the appropriation of the center to remain self-reliant. The Ministry of Coal is moving on to a significant shift to decrease import of coal and export more of it which is a major change in India’s energy map.
The planning documents contain goals and objectives to increase the production of domestic coal, to support the energy security and to promote the stable development of the coal related industry. Production target in the fiscal 2024-25 has been reflected at 1080 million tonnes of steel which is somewhat higher than that of the last year.
To promote the reduction of importation of coal an Inter-Ministerial Committee has been formed. This particular committee will be in charge of presenting discourses and officially steering the processes of seeking out potential import substitution within the ministries.
Therefore, ramped up production and export of the coal is likely to boost economic activity, generate employment, and improve India’s energy security. The plan is a very commendable one especially from the government since it is in line with the country’s strategic goal of producing energy locally and therefore less reliance on the imports.
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