Coal stock expected to hit 150 million tonnes by end of FY24: Pralhad Joshi

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New Delhi: Union minister for coal, mines and parliamentary affairs Pralhad Joshi said on Thursday that India’s coal stock is expected to be around 150 million tonnes by the end of FY24 to meet the rising demand for power.

The country’s coal stock – in mine pitheads, in transit and at thermal power plants – stood at 125.5 million tonne at the end of FY23.

“We will have nearly 150 million tonnes of stock (by the end of March), including 45 million tonnes in thermal plants,” Joshi said.

With temperatures rising, India’s power demand is expected to surge in the coming days. The union ministry of power has already extended the mandate for power generation companies to blend 6% imported coal to June, anticipating logistical issues.

Peak power demand this fiscal is expected to hit a new record at 260 GW, up from 243 GW last year.

Coal production crossed 900 million tonnes on 6 March, according to a statement from the ministry, and the government is eyeing a billion tonnes by the end of the fiscal. “Notably, during FY24, India has achieved a remarkable feat by surpassing last year’s coal production of 893.19 MT, 27 days in advance,” the statement read.

The government is looking at ending the import of coal for power generation by FY26. The minister on Thursday released ‘Strategy Papers on Coal Import Substitution’.

To reduce India’s dependence on coal imports, the coal ministry had constituted an inter-ministerial committee with members from the commerce, power, railways, shipping, mines and steel ministries, besides Coal India, SCCL and others.

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Pooja Gupta

CA Pooja Gupta (CA, ISA, having 15 years of experience. Educator and Digital Creator

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CA Pooja Gupta (CA, ISA, having 15 years of experience. Educator and Digital Creator

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