Business News
2 min read | Updated on February 27, 2024, 17:34 IST
SUMMARY
The coal sector is a major employment provider, particularly in the coal-producing districts of eastern India.
Coal is the single largest contributor to railway freight.
“As the cornerstone of India’s energy basket, coal remains indispensable, contributing to over half of our primary energy needs. In the last decade, thermal power fueled mainly by coal has consistently contributed more than 70% of our total power generation”, the Ministry of Coal said.
Despite considerable advancements in promoting renewable energy sources, the increase in electricity demand necessitates continued use of thermal power. Projections indicate that by 2030, the share of thermal power as an energy source will be around 55% and 27% by 2047.
"It is anticipated through comprehensive studies that coal demand in 2030 will likely reach 1462 MT and 1755 MT by 2047," a press release on PIB said.
As India continues its growth and development, the coal sector remains a cornerstone of progress, driving economic prosperity, employment, and social well-being.
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