The government has transformed the country's coal scenario in a short span and not a single thermal power plant is now facing shortage of the fuel, Union Minister Piyush Goyal said here today.
"During the erstwhile (UPA) government, there was once a time when two thirds of the total number of thermal power plants in the country had to be kept shut for a few days due to coal shortage. But presently, there is not a single thermal power plant in the country that is facing coal crisis," Goyal said.
The minister was addressing the annual convention of Indore Management Association.
"At present, the thermal power plants in the country have 25 days of coal stock. Besides, the coal pit-heads have so much of stock that these power plants can run for 40 days without any problem," the Union Minister of State for Coal, Power and Renewable Energy said.
Now, the situation is such that we are extracting so much coal these days that there is no space left for its storage, he added.
"We have reinvented the coal sector in the country in the last 18 months only by making coal mines auction process transparent. We have made public sector coal companies capable and today they are giving fantastic results," the minister said.
In the last fiscal, the production of public sector Coal India Ltd witnessed a rise of seven per cent and in current financial year, it is increasing at the rate of 9.5 per cent.
Goyal said that Modi government is working with a long-term vision.
"Prime minister wants the government schemes to be framed not just for the next five years alone, but by keeping in mind the coming decades so that country will continue to walk ahead on the path of development," Goyal said.
On the occasion, HDFC chairman Deepak Parekh was given lifetime achievement award for his contribution to banking sector.