Coal production for the month of October 2015 touched 44.37 mn tonnes while targeted production was 46.84 mn tones, achieving a production target of 95%. However, production of coal has increased considerably in the month of October compared to previous two months. The offtake of coal in the month of October also registered significant rise which is a positive indicator about industrial scenario highlighting improved industrial/manufacturing activity.
Source: Coal India,
Coal remains the most decisive player in IOndia’s energy consumption basket. India’s coal reserve is 84396 MT which is 8.6% of world’s coal reserve and may last for about 230 years at the present reserve to production (R/P) ratio. Coal will remain the major energy component in the foreseeable future for India. The future of coal mining in India depends on the industry’s capacity to maintain a balance between profitability and preservation of environment, human capital and the surrounding communities.
Policy Level Changes:
Permission for loss making subsidiaries of Coal India Ltd to adopt 2007 pay revision
The Union Cabinet has approved the recommendations to regularize the 2007 Pay Revision implemented by Coal India Ltd with effect from 01.01.2007 in the loss making subsidiaries. The Cabinet also approved the payment of Performance Related Pay (PRP) to executives and non-unionised supervisors of CIL and its subsidiaries.