More than Rs 3.85 trillion spent on coal imports last year: Govt data

Meanwhile, the ministry said it is deeply concerned about protecting forests and no coal mine has been auctioned by ignoring suggestions of the environment ministry

coal, coal imports
Nine coal mines falling in dense Hasdeo-Arand coal field have also been kept out for further round of auctions of coal blocks
Press Trust of India New Delhi
2 min read Last Updated : Oct 19 2023 | 6:25 PM IST

The country spent more than Rs 3.85 lakh crore on coal imports last year, the government said on Thursday.

Though the share of coal import in total consumption came down from 26 per cent to 21 per cent in the last five years, India is importing more than 200 million tonnes (MT) of dry fuel every year, incurring huge foreign exchange outflow.

"The goal of coal ministry is to enhance coal production to ensure adequate availability of coal for fast growing economy of the country. As a result of efforts of the ministry, the share of imports in total consumption reduced from 26 per cent to to 21 per cent during last 5 years," it said.

Meanwhile, the ministry said it is deeply concerned about protecting forests and no coal mine has been auctioned by ignoring suggestions of the environment ministry.

For example, it said, the plea of Chhattisgarh to de-notify coal mines falling under Lemru Elephant Corridor has been accepted.

Areas beyond Lemru Elephant Corridor have also been considered for exemption on the request of the state government.

"Over 40 new coal blocks having about 10 per cent of reserve of Chhattisgarh has been decided to be kept out of coal mining," it said.

Nine coal mines falling in dense Hasdeo-Arand coal field have also been kept out for further round of auctions of coal blocks.

Similarly, the request of Tamil Nadu to exclude three lignite mines from further auction process has also been accepted. These decisions of Ministry of Coal clearly indicate our responsibility to protect forest areas despite industry demands to put them under auction, the ministry added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

*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

Topics :coal industrycoal importcoal projects

First Published: Oct 19 2023 | 6:25 PM IST

Next Story