April 23, 2020
Cola India to maintain output targets to achieve its goal of producing 1 billion tonnes by 2024
The Ministry of Coal anticipates a rise in global demand for coal post the COVID-19 lockdown
Increased output will ensure availability to all consumers while reducing India’s coal imports
Government is also ensuring business continuity through relief plans and policy amendments
A global leader in coal production, Coal India Limited (CIL), has announced an output target of 710 million tonnes for the current fiscal year, the Union Minister of Coal & Mines, Shri Pralhad Joshi, said on April 22. According to a Ministry of Coal statement, the state-run coal mining giant intends to maintain production and offtake targets of 710 million tonnes in 2020-21, to achieve its larger goal of producing 1 billion tonnes of coal by 2024.
The Ministry has estimated a rise in global demand for coal once the COVID-19 lockdown eases, and has hence stressed on the need for continuous coal production throughout this year, with specific reference to challenges expected during monsoon season. The Government has focused on ensuring the continued availability of quality coal to all consumers, with the reassurance of adequate support in meeting the necessary demand. Besides, the Ministry plans to encourage companies currently importing coal to seek viable alternatives, while assisting them in doing so.
As India’s lockdown continues into May, the Government is easing restrictions on mainstream business activities outside of COVID-19 hotspots across the country, provided they take adequate safety measures. In efforts to support business continuity, the Government has enforced safety measures, such as restriction on the workforce to only 33 per cent of employees in a company, among others, to prevent long-term social and economic consequences of the pandemic.
In addition, initiatives include the Directorate General of Foreign Trade (DGFT) launching a help desk to assist with any COVID-19 related export and import issue, the announcement of a US$22.5 billion relief plan to help the most vulnerable sections of the society ride out the crisis, and the newly established Invest India Business Immunity Platform which provides entrepreneurs and businesses with access to the latest developments and information regarding the current crisis.