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Policy overhaul for coal sector

Our Bureau

New Delhi, Feb. 28

The Budget for 2006-07 presented on Tuesday indicated substantial policy changes for coal mining over the next few years.

The Finance Minister, Mr P. Chidambaram, has said that a comprehensive review of the coal policy is underway. A decision has been taken to de-block coal reserves of 20 billion tonnes for power generation projects, after reserving blocks for Coal India Ltd and its subsidiaries for the period up to 2012.

He pointed out that the definition of captive consumption would also be amended to allow coal mining by private producers having firm supply contracts with steel, cement and power companies.

During 2005-06, already 45 coal blocks have been allotted for captive consumption to the power, cement and steel sectors and the State Governments.

The capacity of Central Mines Planning and Development Institute Ltd to drill in order to prove reserves is now only 200,000 metres per annum, and this will be expanded substantially, the Minister said.

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