The minister sought to allay fears of domestic players and labour unions by reiterating that FDI in the coal sector does not stand for FDI in Coal India. (Photo Credit: File Image)
State-owned Coal India will produce 750 million tonnes of coal in the next financial year and would offer around 10,000 new jobs to boost employment, Union minister Pralhad Joshi said on Friday. Coal India (CIL) will further produce 1 billion tonnes of coal by FY2024, the coal ministry quoted Joshi as saying. "The CIL is also likely to offer around ten thousand new jobs to boost employment," the coal minister said.
Joshi also directed CIL to take necessary steps to achieve this goal in light of growing energy requirements of the nation and assured the PSU of all possible help from the Ministry of Coal in this regard.
The minister announced this target during his address at the 45th foundation day of CIL in Kolkata on Friday.
The PSU is currently given the target of producing 660 million tonnes of coal amounting to 82 per cent of the country's coal output.
"It is heartening to know that Coal India has planned for huge capital investments for its works and expansion programmes, along with bringing in new technologies in its operations. The company will also be on hiring personnel and I am hopeful that it will achieve all assigned goals on time," the minister said.
Joshi said that with the demand for power rising steeply, there is enough opportunity for both government and private sectors to produce coal without adversely impacting each other.
Referring to the government's recent decision of 100 per cent FDI under automatic route in the coal sector as one of the much-needed structural reforms, he said that it will minimise the volume of coal import and will be mutually beneficial.
The minister sought to allay fears of domestic players and labour unions by reiterating that FDI in the coal sector does not stand for FDI in Coal India.
During his address, the minister also urged Coal India to get associated with Jal Shakti Abhiyan to conserve water and provide treated mine water to the populace living in and around coal mining areas.
On the Prime Minister's call for eradication of Tuberculosis (TB) from India by 2025, the minister appealed Coal India to eradicate the disease in and around mining areas by 2024 under its Corporate Social Responsibility programme.