Coal Sector To Play Key Role In USD 5 Trillion Economy: Amit Shah

New Delhi: The coal sector would play a key role in achieving the target of a USD 5 trillion economy, said Union Home Minister Amit Shah.

Shah launched the Single Window Clearance Portal of Ministry of Coal in presence of Union Minister of Coal and Mines Pralhad Joshi at an event here to execute agreements with successful bidders of India’s first ever commercial coal mine auctions.

Speaking at the function, Shah said the target to reach the USD 5 trillion economy has been set for 2022, the year that marks the completion of 75 years of India’s Independence.

He said commercial coal mining auctions will now facilitate small and medium industries to receive coal supplies easily.

On Monday 19 successful bidders have been allotted mines under the country’s first commercial coal mining auction. This will give the states an estimated revenue of about Rs 6,500 crore per year and will also create more than 70,000 jobs.

The success of India’s first ever commercial mining auctions will pave the way for the Aatma Nirbhar Bharat as it will help reduce India’s coal import by about 20 per cent.

The Union Minister said maximum increase in production has taken place from 2014 to 2020, the six years of Modi governance. Around 560 MT of coal was produced in 2014, while in 2020 it has reached 729 MT, he said.

The commercial coal mining auction process will open the way for development in Central and Eastern tribal areas of the country. Prior to the Modi government, Eastern India did not develop at the same pace as it should have, compared to Western India, he said.

Emphasising on accelerating the pace of coal mining, Shah said the greater the pace of this sector, the faster the nation’s economy will grow, and it will help achieve the target of the USD 5 trillion economy.

“We have reformed the coal, and now coal will transform the nation,” said Joshi.

“Coal sector has witnessed massive transformation under the dynamic and decisive leadership of Prime Minister Narendra Modi. Single Window Clearance Portal is in the spirit of Minimum Government and Maximum Governance. It would be a milestone for Ease of Doing Business in the Indian Coal Sector,”  Joshi said.