Importing coal unjustified as country has huge reserves: Goyal

Image
Press Trust of India Nagpur
Last Updated : Mar 22 2015 | 11:07 PM IST
Union Minister Piyush Goyal today said importing coal is "unjustified" at a time when the country is sitting on reserves totalling 300 billion tonne.
"When the country is sitting on a huge coal reserve, to import it is unjustified. The production of coal has risen from 432 million tonne to 460 million tonne and will cross 493 million tonne this year, which will be an increase of over 30 million tonne," Goyal told a press conference here.
The Union minister of state for Coal said that the BJP-led government at Centre has accorded a top priority to coal and generation of power and that all-out efforts are being made to supply coal to electricity generating units across the country.
"The government is also giving mines to states to meet the requirement," the minister said, adding the production of coal by the Coal India Limited has gone up by seven per cent since the BJP government came to power last year.
On the occasion, Goyal hailed Western Coalfields Limited (WCL), a Coal India subsidiary, for pulling the loss-making company out of red and producing 38 million tonne of coal.
He said WCL will open a new mine every month.
Goyal said he was surprised to know that around eight crore housewives in the country burn coal to cook food.
Earlier, he inaugurated Penganga open cast mine at Wani in neighbouring Chandrapur district. The mine has the production capacity of four million tonne.
Goyal also dedicated to nation Makardhokra Open Cast and Bhangegaon Open Cast mines having capacity of 2 million tonne and one million tonne, respectively.
Union Ministers Nitin Gadkari and Hansraj Ahir along with Maharashtra Chief Minister Devendra Fadnavis, Finance Minister Sudhir Mungantiwar and Power Minister Chandrashekhar Bawankule were present on the occasion.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 22 2015 | 11:07 PM IST

Next Story