Coal output growth to decline to 6% in FY11: PMEAC
The Prime Minister's Economic Advisory Council (PMEAC) today said growth rate in coal production will decelerate to 6 per cent in 2010-11 from over 8 per cent in the previous fiscal.
The PMEAC said India's coal production is expected to touch 560 million tonnes this fiscal.
Coal output grew by 6.8 per cent in 2007-08, 7.8 per cent in 2008-09. In 2009-10, it grew by 8.3 per cent to touch 527 million tonnes.
"Although coal output growth has been extremely weak in the first two months of 2010-11, overall for the year it would be reasonable to expect coal output in excess of 560 MT, implying a growth of well over 6 per cent," the PMEAC said in its economic outlook report for 2010-11.
State-owned Coal India is accountable for over 80 per cent of the country's total coal production. The Navratna PSU has set a target for 461.5 MT output for the current fiscal.
The rest is produced by Singareni Collieries Company and others like Tata Steel for captive use.
In 2009-10, the CIL produced 431.27 MT of coal, missing target of 435 MT by a whisker.
CIL mainly supplies to domestic power, steel and cement firms.