Indian Coal Industry- Past, Present and Future
India, rich in coal reserves, remains heavily reliant on fossil fuels. Reforms, private participation, and domestic production growth enhance prospects, despite quality challenges, regulatory pressures, and competition from renewables.
Coal is the World's most abundant, secure, cost effective and safe fossil fuel and, so, is true for India too. Nature has blessed our country with large reserves of coal. As on 31 March 2019, India had 326.49 billion metric tons of the resource.
Coal Mining in India started in the year 1774. It continued to be predominantly manual till Late 60s of 20th Century. Nationalization was done during 1971-1973 for achieving developmental and socialistic objective.
In Nov 1975 Coal India Limited (CIL), a holding company, under the Ministry of coal was set up. In 1993, due to demand supply gap, Captive mining was allowed for Power, steel and cement sectors by way of enactments and amendments to the Nationalisation acts. The MMDR Amendment Act. 2010 was enacted making the system of competitive bidding applicable to all minerals covered under the said Act. Ministry of Coal notified the Auction by Competitive bidding of Coal Mines, Rules 2012. However, Auction was not the call of the day.
In 2012, the CAG published its report on allotments of coal mines. Pursuant to these in 2014, the Supreme Court held that all allotments of coal blocks made during 1993 to 2010 (except few)…
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