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Coal mining (Total resources, Production and import)

  • June 22, 2020
  • Posted by: admin1
  • Category: DPN Topics
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Subject: Economy/Geography

Context:

Government has announced the auction of 41 coal blocks that have a capacity to produce 225 million tonnes of coal per year after removing the end-use restrictions and relaxed prior mining experience as bidding criteria.

Concept:

  • India imports nearly 250 million tonnes of coal from other countries despite having the world’s fourth largest coal reserve.

  • Commercial mining allows the private sector to mine coal commercially without placing any end-use restrictions. The private firms have the option of either gasification of the coal or exporting it.
  • Further, with 100 per cent foreign direct investment allowed in the coal sector, global companies can also participate in the auctions.
  • The complete freedom to decide on sale, pricing, and captive utilisation is expected to attract many private sector firms to participate in the auction process.
  • The government expects these steps will generate employment and reduce India’s import bill.
  • Private sector participation was permitted until the early 1970s. Then government has announced the nationalization of the coal blocks in two phases between 1971 and 1973.
  • The government is hoping that the involvement of the private sector will increase production and make India self-sufficient in meeting its internal coal requirements.
Coal mining (Total resources Production and import) economy Geography
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