By jharkhandnewspaper.com :CRISIL report claims: Commercial Import mining will be reduced by half
Befor moving forward towards our main topic i wpould just like to draw the attention toward our main resources from where we get coal. most of you are not aware of that “DHANBAD” is known as the coal capital of INDIA .
Dhanbad ranks 33rd largest city in India and ranks 42nd largest million-plus urban agglomeration in India.
The present district used to be a part of Manbhum region and was occupied by Mundari tribals in the wilderness of South undivided Bihar.
In the seventh century A.D. some information is available from the account of the travels of Hieun Tsang and these accounts narrate existence of a powerful kingdom which comprised the district and adjoining areas, ruled by Sasanka.
It has been ranked 94th among 111 cities for Ease of Living Index and is 96th fastest growing urban area of world by City Mayors.
Dhanbad shares its land borders with Paschim Bardhaman, West Bengal.
CRISIL report claims: Commercial Import mining will be reduced by half:
Commercial coal mining can reduce coal imports in the country by half.
It has been claimed in the rating agency CRISIL report. According to the report, the annual expenditure on importing non-coking coal can be halved. India imported an estimated 180 to 190 million tonnes of non-coking coal in the financial year 2019-20. The cost of which is more than 90,000 crores. That is, there is no need to import coal of 45 thousand crores from commercial mining.
On 20 May -2020, the Union Cabinet approved the liberalization of coal mining by abolishing the eligibility conditions for private sector participation. Earlier, only captive consumers could mine coal. It is now private companies who will be able to sell coal along with mining.
According to CRISIL report, India has large coal reserves of 300 billion tonnes and yet it imports one-fifth of its once-a-year needed thing (in other words) more than 20% of coal every year. Now two state-owned companies, Coal India and Singareni Collieries Company Limited, produce over 90% of the coal.
Domestic supply grew at an annual growth rate of 3% compared to the previous five decisions. According to Crisil, the decision to liberalize coal mining will help improve coal availability and meet domestic demand.
About half of India’s reserve reserves have not yet been allocated for mining. Government in the medium term approx. Plans to auction 50 mines immediately and more.
In the last financial year, the government allowed 100% foreign direct investment in coal mining, which would help the global miners to come into the fray. Investments by private miners will create a fierce competition situation for state-owned companies in the region.
Higher productivity in result to be expected also sectors such as power, cement and steel will benefit from commercial mining.
However, such power plants which are made in line with imported coal will have to import coal. This will help the global miners to come into the fray. Investments by private miners will create a fierce competition situation for state-owned companies in the region. This is expected to result in higher productivity. Sectors such as power, cement and steel will benefit from commercial mining.