Coal demand estimated to reach 1,087 million tonnes in current fiscal year

Demand for coal is estimated to reach 1,087 million tonne in the ongoing financial year, Parliament was informed on Wednesday.

As against the increased coal demand, domestic production of the fossil fuel has also increased.

“For the current year 2022-23, coal demand has been assessed by the Ministry (coal) to reach 1,087 MT,” Coal Minister Pralhad Joshi said in a written reply to the Lok Sabha.

The actual demand for coal increased to 1,027.92 million tonne (MT) in FY22 from 906.13 MT in FY21.

In FY22, the domestic coal production increased 8.67 per cent to 778.19 MT from 716.08 MT in FY21, the minister said.

Several steps have been taken by the government to increase the production of coal in the country. These include identification and development of new coal blocks, including through captive and commercial route and single window clearance portal for the coal sector to speed up the operationalisation of coal mines.

Being an affordable source of energy with substantial reserves, coal is going to stay as a major source of energy in the foreseeable future, the minister said.

Despite push for renewables, the country will require base load capacity of coal-based generation for stability and also for energy security.

“India has committed to clean energy; the pace of transition to cleaner energy sources in India is to be viewed in the light of national circumstances, and principle of common but differentiated responsibilities and respective capabilities, the transfer of climate finance and low cost climate technologies,” he explained.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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