In a first, the coal ministry has set an ambitious capex target of Rs 21,030 crore for its PSUs and a goal of 1 billion tonnes of coal production in the sector by 2023–24. According to a statement from the ministry, the Action Plan for FY24 was conceptualised with the aim of achieving Aatmanirbhar Bharat by boosting coal industry productivity, efficiency, sustainability, and other factors.
It stated that the roadmap was "ambitious and well-crafted, covering a variety of areas, including a total coal production target of 1012 MT for 2023–24." To increase coal production and efficiency, the ministry has already taken a number of measures, including hiring mining developers and operators (MDO) to operationalize CIL (Coal India) mines and blocks and to produce coal at closed or abandoned mines on a revenue-sharing basis.
In order to decrease imports, the ministry has also developed a plan to increase coking coal supply in the nation. Coal businesses and the ministry have taken a number of actions to fulfil the goal of providing high-quality coal to all users. For both
power and non-power coal consumers, third party sampling agencies have been appointed to handle the task of sampling and analysing coal samples at the loading end. "The capex target for FY24 is Rs 21,030 crore with CIL Rs 16,500 crore, NLCIL: Rs 2,880 crore, and SCCL: Rs 1650 crore. The overall projected target of assets monetization plan for FY 2023-24 is Rs 50,118.61 crore," the ministry said. A total of 23 coal mines with a combined PRC of 33.224 MTPA and agreements signed by the government for those mines during FY23 are anticipated to produce an annual revenue of Rs. 4,700.80 crore computed at PRC (Peak Rated Capacity).
44,906 persons are anticipated to be employed directly and indirectly by these mines. 25 coal mines are anticipated to be assigned for commercial mining in the years 2023–2024, given the positive response to the sixth round of commercial auctions. In agreement with the Ministry of Railways, the coal ministry reported that it is closely observing the construction of new railway lines that are essential for coal evacuation, as well as undertaking coal sector mapping on NMP and using NMP Dashboards. Since logistics is a key part of the supply chain for coal, it has also adopted a policy or plan for the efficient and environmentally friendly transportation of coal.
The recommendations established by the ministry in October 2022, mine closure efforts will start this year at a major number of CIL and SCCL mines. Additionally, to promote efficiency, safety, and the environment, the ministry will distribute the monitoring framework for coal companies to implement the technology roadmap in digitalization and integration of subsystems, use of new technology (drone, remote sensing), and blast-free coal mining.
"Coal India is being diversified as part of the ministry's diversification plans for sustainable future business operations, such as new business fields (aluminium, power, solar wafer, solar power, and renewable), development of core business, etc. According to the ministry, the action plan will clear the way for progress and have a favourable effect on coal's trajectory of growth and a sustainable future.
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