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Coal blocks auction for commercial mining by December

Coal accounts for about 70% of India’s power generation, and the government wants to boost domestic output to cut imports.

business Updated: Apr 13, 2017 11:36 IST
coal
(Reuters photo)

India aims to auction coal blocks for commercial mining by end- December, coal secretary Susheel Kumar told television channel ET NOW on Thursday, a move that would end monopoly of state-run firms in coal mining.

This could help the country to meet its target and produce 1 billion tonnes by 2020.

Coal accounts for about 70% of India’s power generation, and the government wants to boost domestic output to cut imports.

Despite environmental worries, India plans to continue to depend on burning coal to provide power for a population of 1.3 billion.

Indian coal companies have pithead stock - coal mined, but not supplied - of 69 million tonnes, Kumar said, adding Coal India Ltd does not need to produce more.