India to save Rs.30k cr on imports by allowing commercial coal mining: CRISIL
The Dollar Business Bureau The Government’s move to allow commercial mining of coal by private sector will not only enhance production but also help in cutting the import bill by around Rs.30,000 crore, through substitution of imported non-coking coal with local production, according to the global rating agency CRISIL. Last month, the Cabinet Committee on Economic Affairs (CCEA) has approved the methodology for auction of coal mines/blocks, under the Coal Mines Act, opening up the commercial coal mining for private sector. “The move to allow the private sector to commercially mine coal will boost both production and mining efficiency. Moreover, the substitution of imported non-coking coal with domestic production could save roughly Rs.30,000 crore of coal imports,” CRISIL said in a statement. At present, ...
Commercial mining of coal to reduce dependence on imports: FICCI
The Dollar Business Bureau Industry association Federation of Indian Chambers of Commerce and Industry (FICCI) welcomed the Government decision for allowing commercial mining of coal and said that it will support ‘Make in India’ initiative and reduce the country’s dependence on coal imports. The Union Cabinet on Tuesday cleared a process of bidding for commercial mining after four years after enabling the sale and commercial mining of coal through the Coal Mines (Special Provisions) Ordinance, 2014. “FICCI welcomes Cabinet approval to introduce commercial mining of coal and sees it as a landmark policy decision that will change the face of Indian Coal Sector by ushering in rebalancing of prices and market dynamics riding on efficient and large-scale mining,” the industry association said in a statement on Wednesday. It considers that ...
Centre plans to improve thermal power generation
The Dollar Business Bureau Thermal power plants in India generated 878 BU during the last year, registering 10.83 % growth as compared to the figure of 792 BU a year ago. The government has taken slew of measures to improve power generation capacity in the country, Piyush Goyal, Minister of State, Power, Coal & New and Renewable Energy said in a written reply to a question in the Rajya Sabha on Monday, reported PIB. Re-allocation of coal blocks cancelled by the Supreme Court through auction, supplying adequate natural gas to gas-based power plants and modernization of several units were part of the measures to improve the country’s capacity of electricity generation. A total of 70 thermal generation units with ...
