NEW DELHI: India’s draft Bill on coal regulator is ready and will be presented to the cabinet soon, coal secretary Alok Perti said on Tuesday.
“A coal regulator is important. It will certainly add to improving the situation,” said Perti, as the country struggles to produce enough of the cheap fuel for power stations.
India may need to import 140 million tonne of coal in the 2012-13 fiscal year that begins on April 1, about a quarter more from the current fiscal year. “We are almost there. The final draft of the bill is prepared and we are likely to take it to the cabinet very soon and thereafter to parliament,” Perti said.
India is home to about 10% of the world’s coal reserves, but domestic output has been crimped by hurdles over environmental clearances and land acquisition, as well as low investment.
Coal accounts for more than half of India’s power generation and will be required for about 85% of the 75,000 MW of new capacity that is due to come onstream by 2017.