Hyderabad: Union Minister G Kishan Reddy on Monday said that the Centre has adequate coal reserves to meet power generation requirements for 80 days.
Speaking to reporters about the achievements of the NDA government since 2014, Reddy also said that exploration has begun in the critical mineral blocks acquired in Argentina, and production is expected to commence at the earliest.
He said the results of coal gasification projects in the country are expected to become visible within the next two years.
“Earlier, there used to be a shortage of coal. Now, the Government of India has coal reserves sufficient for 80 days of power generation. Since the monsoon season has begun, coal production could face disruptions due to heavy rainfall,” the union coal and mines minister told reporters here.
“Following the directives of Prime Minister Narendra Modi, we have maintained coal stocks sufficient for 80 days,” he added.
Highlighting the importance of critical minerals, Reddy said that the Centre is identifying critical mineral reserves and undertaking exploration activities.
He added that auctions have also begun in areas where exploration has been completed.
The Centre is encouraging private players to import either processed or semi-processed critical minerals into India, he said.
Reddy said that around 143 abandoned coal mines have been identified for closure, and an action plan has been initiated to close all these mines simultaneously.
“By 2028, the closure of these mines will be completed in a scientific manner,” he said.
Alleging that the coal sector was plagued by scams during the previous UPA regime, he said the country is now producing a record 1,040 million tonnes of coal annually following major reforms introduced in the coal and mining sectors over the past 12 years.
He said that five lakh people are directly employed and 25 lakh people are indirectly employed in the coal sector, while 50 lakh people work in the mining sector overall.
Reddy said the country has emerged as the world’s second-largest producer and consumer of coal.
He also said India possesses the world’s fifth-largest coal reserves, while Coal India Ltd remains the largest coal-producing company globally.
He added that nearly 70 per cent of the country’s power generation is coal-based, asserting that there is currently no power shortage anywhere in India.
Reddy said the Centre would organise roadshows in Mumbai, Hyderabad, and other cities to promote the recently launched coal gasification scheme.
In May this year, the union cabinet approved a Rs 37,500-crore incentive scheme to promote coal gasification projects.
The process converts coal into syngas, which can be used to produce cleaner fuels, chemicals, fertilisers, and hydrogen.
The scheme aims to boost clean energy production and reduce the country’s dependence on imports of LNG, urea, and methanol, while shielding the economy from global price volatility and supply chain disruptions.
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