The coal ministry has set a production target of 655 million tonne (mt) for Coal India Ltd for the current fiscal year after the Maharatna company closed last fiscal year with 607 mt of production, registering a 7.23 per cent growth in actual production.
In the last fiscal year, the ministry had set a production and despatch target of 610 mt for the company. Incidentally, the ministerial target this year is just 5 mt over the aspirational target which the world’s largest coal producer had set for itself in 2018-19.
At the beginning of every fiscal year, based on the projected requirements from power plants and other sectors such as steel and cement, the coal ministry signs an agreement with Coal India, which is called Memorandum of Understand (MoU) target. This becomes the ministerial target for the company.
