After crude oil and electronics, coal has emerged as the latest headache for Indian policy makers battling with unfavourable balance of payments, prompting the Reserve Bank of India (RBI) to flag its concern over the rising dry fuel import, perhaps for the first time.
Significantly, when Piyush Goyal took charge of the coal ministry in 2014, he had promised to end India’s dependence on coal imports by 2016. However, India’s coal imports are rising.
As The Wire had earlier reported, the value of India’s coal imports rose by 38.2% to Rs 1,38,477 crore ($20.17 billion) in 2017-18, commerce ministry data showed. Read More