Saturday, February 05,
To meet the need for coal, India’s coal imports are likely to climb by 70% in the next fiscal, higher than the previous estimate of a 25% rise as mining projects faces regulatory hurdles and delays, said, environmental ministry coal minister Sriprakash Jaiswal.
Domestic production which continues to provide the majority of coal consumed faces hurdles such as environmental clearances, land acquisition problems & low investment coal producers have been seeking assets abroad to help meet the shortfall.
The import dependence is increasingly rapidly” Jaiswal said in his speech. In the current fiscal year, India’s coal imports may fall due to high global; prices triggered by the floods in Australia,Jaiswal had said recently that could impact power generation & earnings of steel power & Cement firms.
India’s coal production is projected at 630 million tones in 2011-12 against a demand of 713 million tones. Jaiswal further said there is a need to allow permission to mine in these areas for meeting country’s coal requirement.
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