Weekly Current Affairs

Era of coal shortage is over: Piyush Goyal [Infrastructure]

  • In October, coal imports fell for the fourth consecutive month by 5.1 per cent to 14.52 million tonnes over same month year ago, mainly due to an increase in domestic production.
  • India would not need to import coal by 2017, except to meet requirements of power plants located near the coastal area.
  • India, which is the third-largest producer of coal after China and the US, had imported 212.103 million tonnes of coal worth over Rs.1 lakh crore last fiscal.
  • A KPMG India report titled ‘The Rising Sun - Disruption on the Horizon’ highlights that solar could scale up substantially to be a significant energy source by 2025, with the market penetration of solar power expected to be 5.7 per cent (54 GW) by 2020 and 12.5 per cent (166 GW) by 2025.
  • The reports added that solar power was likely to contribute 4 per cent towards India’s target to reduce emission intensity of its GDP by 33 to 35 per cent by 2030 from 2005 levels.
  • Mr. Goyal said India’s renewable energy capacity target of 175 GW by 2022 is not only doable but necessary also in view of the energy security of the country.
  • Also, the government was working with the NITI Aayog to draw a blueprint for energy policy in the country.