Putting speculation of breaking up state behemoth Coal India to rest, Power and Coal Minister Piyush Goyal has said the new Government will not split the world’s largest coal miner but will work to smoothen the edges and improve its performance.
The new Government wants to fix the coal sector quickly to ensure uninterrupted electricity supply across the country. Coal is the cheapest fuel and is used to generate more than half of India’s power.
India is home to the world’s fifth-largest reserves of coal but delays in environmental approvals, land acquisition problems and inefficient systems have made the country the third-biggest importer. Banker-turned-politician Goyal, 50, believes the problems can be fixed by keeping Coal India ltd (CIl) as one company.
“We have been assessing the performance of Coal India in great detail and I think there is a lot of potential to smoothen the edges and enhance the production at different mines,” he told PTI in an interview here.