By allowing the commercial coal mining of the Modi government,
saving of about 30 thousand crores of coal imports will be saved. Currently,
non-cooking coal of about Rs. 59 thousand crores is imported from abroad. Global
Analytics Company Crisil claims that about 50 per cent of imported coal mining
will not be required. Crisil's report said that this would greatly benefit
the power and steel sector.
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| BEST STOCK ADVISORY |
The decision taken
by the cabinet was given permission for commercial coal mining in the Cabinet meeting chaired by Prime Minister Narendra Modi last week. After this decision, mining private companies will be able to sell coal to anyone, which has so far been banned. According to the rule till date, private mining companies can only mine for their use. This is considered to be a major step for the coal, power and steel industry.
How
coal is dear India
imports from now, according to a report released by Crisil Tuesday abroad fifth of the total annual requirement of Indian coal. Whose total value is about one lakh crores of coal from foreign countries. Of this, Rs 59 thousand crore is non-cooking coal and Rs 41 thousand crore cooking coal. Non-cooking coal is used in power and steel sectors. If commercial mining starts, the quantity of non-cooking coal will increase in the country.
imports from now, according to a report released by Crisil Tuesday abroad fifth of the total annual requirement of Indian coal. Whose total value is about one lakh crores of coal from foreign countries. Of this, Rs 59 thousand crore is non-cooking coal and Rs 41 thousand crore cooking coal. Non-cooking coal is used in power and steel sectors. If commercial mining starts, the quantity of non-cooking coal will increase in the country.
According to production Crisil, competition will increase after private sector
approval in coal mining. At the same time, the private sector will
increase investment in this sector rapidly. This will increase the
production of coal significantly. Crisil estimates that by this step, the
annual production of coal will reach 1.5 billion tonnes in 2022.
Government
companies will lose dominance
At present,
about 94 per cent of mining government companies are run by Coal India Ltd and
Singareni Collieries Company Limited. Only 6% of private sector is coal
mining. The main reason for this was that private mining was not allowed
for private sector. Now, after the ban, the trend of private sector will
increase towards coal mining. Senior Director of Crisil Ratings, Sachin
Gupta said that the import of coal, especially non-cooking variety, will come
down significantly and private sector companies will come in coal mining.
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