Government Auctions 91 Coal Mines Under Commercial Auction, Reports 5% Dip in Coal Imports: Pralhad Joshi
In a significant update, Union Coal, Mines, and Parliamentary Affairs Minister Pralhad Joshi informed the Lok Sabha that 91 coal mines have been successfully auctioned under the Commercial Coal Mine Auction until the 8th round. Responding to a question in the Lok Sabha, Joshi highlighted the positive impact of the commercial auction scheme, emphasizing that it has played a crucial role in reducing coal imports in the country.
Impact on MSMEs and Businesses in the Mining Sector:
The successful auctioning of 91 coal mines under the commercial auction scheme is a noteworthy development for MSMEs and businesses in the mining sector. The reduction in coal imports by five percent, coupled with increased domestic coal production, is expected to have a positive impact on businesses that rely on coal as a key resource. The transparent allocation system introduced since 2014 has not only curbed fraud but has also contributed to the growth of coal production, reaching a significant milestone of up to one billion metric tonnes. This surge in coal production aligns with the goal of achieving self-reliance and reducing dependency on imported coal, providing a favorable environment for businesses in the mining sector. The government’s measures to strengthen the domestic coal industry are poised to benefit MSMEs and businesses associated with coal-based activities, ensuring a more sustainable and self-sufficient approach.
