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Government focusing on increasing domestic coking coal production

Steel Secretary Sanjay Kumar Singh stated that by reducing the tax on coking coal to zero, the government has made a significant choice.

September 16, 2022 7:26 IST | India Infoline News Service

According to a senior government official on Thursday, the government is trying to enhance domestic coking coal production as the nation strives to reach a 300 million tonne steel production capacity by 2030–31. Coking coal is a crucial component in the production of steel, and the nation continues to rely on imports to supply 85% of its coking coal requirements.

Steel Secretary Sanjay Kumar Singh stated that by reducing the tax on coking coal to zero, the government has made a significant choice.

"Although there have been concerns about rising prices in this region (coking coal), they have recently decreased dramatically. Of course, when coking coal is produced to our specifications domestically, as the Ministry of Coal is attempting to do, that will be the whole solution "He spoke to PTI.

He was addressing attendees of the e-marketplace mjunction-organized "Indian Steel Markets Conference."

In order to make the steel sector self-sufficient, coking coal mining investments are required, according to recent comments made by Union Minister of State for Steel Faggan Singh Kulaste.

For the production of 120 MT of crude steel in FY22, India imported 57 million tonnes of coking coal.

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