India broke record coal production
Coal production in India has achieved an unprecedented feat by crossing the 900 million tonnes (MT) mark by 6 March 2024 and is on track to achieve the ambitious target of one billion tonnes (BT) by 31 March 2024. Notably, the country has achieved a remarkable feat by surpassing the previous year's coal production figure of 893.19 MT by twenty-seven days already during the current financial year i.e. 2023-24.
Additionally, adequate stock of about 85 MT coal is available with coal companies, while domestic coal based thermal power plants had stock of 43.28 MT coal available as on March 5, 2024, thereby ensuring uninterrupted power supply across the country. Ample coal reserves and record-breaking coal production help meet the growing demand for electricity, especially during periods of peak consumption. This promotes stability in the energy sector and supports economic growth.
India's achievement of over 900 MT in coal production not only strengthens India's energy security but also reduces dependence on coal imports, thereby saving considerable foreign exchange.