India has saved over Rs 1 lakh crore in coal import bill over the last four years as shipments brought in by the power sector – accounting for 76% of demand – came down steadily on the back of rising domestic production and improved quality control, says an internal assessment paper of the coal ministry.
The analysis, undertaken after several power stations recently ran low on coal stocks, assumes a CAGR (compounded annual growth rate) of 22.6% on the basis of average import growth rate between 2009-10 and 2014-15 to project a requirement of 380 MT (million tonne) shipments in 2017-18, valued at Rs 2.52 lakh crore. Against this projection, actual imports stood at 208 MT, valued at Rs 1.14 lakh crore, reflecting a huge saving of forex outgo. Read more
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