Canara in Coal Mine ๐️ on Making Coal Mining ⚒ private
Opening up the coal sector to private players is a timely reform Forty-five years after India nationalised its coal-mining industry, the Central government has allowed the re-entry of commercial mining firms into the sector, turning the clock back. India’s coal industry was predominantly driven by the private sector after Independence until the Indira Gandhi government decided to transfer all coal holdings to Coal India through the Coal Mines (Nationalisation) Act, 1973. The key reason cited for taking coal out of the private sector’s hands was that it was essential to meet power needs. Now, India’s coal market is a virtual monopoly for the public sector behemoth. Coal India accounts for over 80% of the country’s coal supply. Another public sector firm, Singareni Collieries Company, and some captive coal mines allotted to private players for specific end-uses such as in the steel and power industries, account for the rest. Opening up commercial mining and sale o...