India Marks Historic Coal and Lignite Production of Over 1 Billion Tonnes

New Delhi, Apr 1 - India has achieved a significant milestone in its coal and lignite production, surpassing 1 billion tonnes for the first time in the financial year 2023-24, announced Union Coal and Mines Minister Pralhad Joshi. This achievement marks a historic moment for the nation, showcasing a substantial increase from the 937 million tonnes recorded in the previous fiscal year 2022-23. Under the leadership of Prime Minister Narendra Modi, this achievement not only highlights India's growing capabilities in coal production but also its commitment to ensuring energy security.

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Minister Joshi expressed his gratitude towards officials, coal workers, and private miners whose dedication has been pivotal in achieving this goal. He highlighted that India has seen a 70 per cent increase in coal production over the past decade. With this significant progress, Joshi is optimistic about India's next target of eliminating coal imports by the financial year 2025-26. The reduction in coal imports for blending purposes from 30.80 million tonnes in FY22-23 to 22.20 million tonnes in FY24 has already resulted in substantial savings of Rs 82,264 crore.

The official data reveals that the combined coal and lignite production reached 1,039.57 million tonnes, with dispatches amounting to 1,016.71 million tonnes during FY24. Specifically, coal production stood at 997.39 million tonnes, marking an 11.67 per cent increase over the previous year's production of 893.19 million tonnes. However, lignite production saw a slight decrease of 5 per cent from the previous fiscal year's production of 44 million tonnes.

The compound annual growth rate (CAGR) of coal production was recorded at 5.83 per cent from 2013-14 to 2023-24, starting from an output of 565.77 million tonnes. Dispatches have also seen a steady growth, with a CAGR of 5.46 per cent from FY14 to FY24. The power sector received 805.35 million tonnes of coal during FY24, an increase of 8.16 per cent over FY23, while non-regulated sectors such as steel, cement, and sponge iron witnessed a remarkable growth of 26.51 per cent in their coal allocation.

Enhancements in logistics efficiency through First Mile Connectivity Projects have played a crucial role in optimizing coal transportation in an eco-friendly manner. The railways supported this achievement by supplying an average of 393.1 daily rakes during FY24, up from 371.55 in FY23.

Coal-based power generation saw a significant rise of 9.98 per cent to 1244.81 billion units during FY23-24 compared to the previous fiscal year. The CAGR for coal and lignite-based power generation stood at 5.46 per cent from FY13-14 to FY23-24. As of March 31, 2024, the country's coal stock was around 161 million tonnes, with 47.38 million tonnes allocated to domestic coal-based thermal power plants, ensuring a steady power supply across the nation.

This landmark achievement not only underscores India's strides towards self-reliance in energy resources but also reflects the concerted efforts towards enhancing domestic coal production capabilities while reducing dependency on imports.