Quality coal production in India sets to peak the industrial development

“Modi’s reign of five years have been the golden years in the nation’s development. Development in any sector has been raised in the past five years. Whatever tasks are undertaken by the PM, constitute speed, scale and skill”, said Coal and Railway Minister Piyush Goyal while addressing the India Resource Conclave 2019 in the national capital on Monday. Backing the 5 year challenge, Goyal said the coal sector has also flourished during, as compared to that of last 50 years.

“Coal has always played a major role in India’s development. Electricity in India consists of 60% of coal invasion. Industries of aluminium, steel, fertilisers require coal in its working. Earlier there were shops selling coals, which have now become extinct. In the past four years, there are hardly 2 crore homes left without the LPG gas. By the end of the term, the government under the Ujwala Gas Yojana, will be providing 8 crores with the LPG gas connections.”, he added hailing the achievements.

“After 2014, 13 crore LPG connections have been made available and in the coming half year, the number of the beneficiaries will be added. Coal has always been a topic of discussion. It involved a lot of corruption in its earlier period around five decades ago. Collateral costs had to be paid. Even now people hesitate to handle the coal related matters. 2/3rd of the power plants operate on a critical stock. There are shortages of coal around which led to import of 217 mn tonnes of coal in year 2014-15. After that, neither of the year has imported coal in such a huge quantity. It is less than that imported in year 2014”, he confirmed.

“In the UPA reigns, there was a compounded growth of 20 to 22 per cent in the import of the coals. If the same would have continued today, India would have imported 380 mn tonnes of coal. This is what is achieved by the NDA government in the past four years. India has become the fastest growing economy in the world with 7.3 per cent CAGR growth. Although the demands for the electricity, steel have grown, the imports of the coal as a resource have been totally curbed”, Goyal said in his address.

Stressing at the quality coal production in India, Goyal said, “Earlier the coal consisted of the blockages and the quality was also inferior. In the past four years, the government have not received a single complaint in this issue. The growth of alone Coal India measures to 105 mn tonnes. If we remove the quality aspect from this, alone Coal India will be producing 165 mn ton”.

Along with the benefits attained by the aligned industries, coal production in India aims to give better employment opportunities and lower costs of made in India products, easing the further industrial procedures, he said.


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