Quick decisions remove uncertainty in coal sector

Tribune News Service

New Delhi, February 27

Uncertainty in the coal sector that originated from Supreme Court’s cancelling the allocation of coal blocks was removed with the government taking quick decisions, the Economic Survey said.

The government issued the Coal Mines (Special Provisions) Ordinance, 2014 on October 21, followed by the Coal Mines (Special Provisions) Second Ordinance, 2014 in December, the official document said.

The main purpose of these ordinances was to provide for allocation of coal mines to steel, cement and power utilities which are vital for development, it said.

The annual target for coal production for 2014-15 is 630.25 million tonnes (MT).

Production of raw coal during April-December 2014 at 426.7 MT increased by 9.1 per cent compared to 1.5 per cent growth in the corresponding period of 2013-14.