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Home » business » India has solved the coal problem and is on the way to become a coal exporter

India has solved the coal problem and is on the way to become a coal exporter

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Union Power Minister Piyush Goyal proudly announced on Tuesday that Coal problems are now history and the government will further boost domestic production to cut down on the imports that will result in savings to the tune of Rs 40,000 crore this year.

“Last year, the reduction in imports of coal saved Rs 24,000 crore and this year the target is Rs 40,000 crore,” claimed the minister. Piyush Goyal has some ambitious plans for India and the minister wants to turn the county into an exporter. He said, “The country should look at doubling its mineral output in the next 3 to 4 years and become a net exporter of minerals.”

Earlier India used to have 2-3 days stock of coal available to power plants but now the country has 51 days stock, which is according to Goyal a reflection of the hard work and commitment of all mine employees.

He said that in the last 2 years, the capacity of the Southern grid has been increased by 71 per cent. Coal output, which was stagnant for years, has increased significantly, helping many stranded power plants start generating electricity.

India has already declared that it will not have a power deficit this year which is an outcome of the current government’s initiatives to resolve burning issues like fuel scarcity.

Piyush Goyal earlier in June had said that highest ever conventional power capacity of 46,453 MW has been added during two years of his tenure, about 11,000 MW of gas plants have been revived and coal shortages to power plants removed.

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