Ministry of Coal – Aastha Group Mohit Aggarwal | Juggernaut Projects

Formation and Functions

Introduction

After Independence, it was soon realized that there was a greater need for coal production in India. This was realized as soon as the First Five Year Plan was discussed. Representatives of the coal industry had suggested early on that the fragmentation and divided smaller units were a major setback for the overall growth of the coal market of India and hence, the idea to unite and combine every unit, big or small, involved in the coal sector was brought up and hence, the Nationalization of Coal happened.

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Brief History

It began more than 220 years ago when Eat India Company had arrived here. The demand for Coal was very low back then but the introduction of steam locomotives changed the dynamics of the coal industry of India, one of the few things that India is truly grateful for, as stated by Mr. Mohit Aggarwal.

Then after independence, under the first five-year plan, National Coal Development Corporation was set up to amalgamate the total national coal production, followed by the ultimate idea of Nationalization and the rest is history.

Functions of Ministry of Coal

Broadly speaking:

• The MOC has an overarching responsibility to look over all the policy-making related to the exploration of coal and determining policies related to the development of the coal sector.
• It has the responsibility of sanctioning projects of high importance and value related to Lignite and Coal reserves of the country and deciding all the related policies.
• Looks after administration of Coal mines, its welfare, Provident Funds, etc.

Public Sector Undertaking

The above-mentioned functions are carried out through these PSUs: Coal India Ltd, Neyveli Lignite Corporation India Ltd., and other subsidiaries.

Fun Fact: As opposed to the prestigious Navratna Companies that we read about now and then, Coal India is given the status of a Maharatna Company along with a few others, by the government of India to empower them further. Such initiatives are taken to promote the quality that dominates the world according to Mr. Mohit Aggarwal Aastha Group.

Conclusion

There’s no doubt that Coal is one of the most important heart business sectors of India. A way forward now can be that introduction of private players into this shall definitely bring about changes in the stalled work and world-class quality and efficiency. India quickly needs to think of a way to harness coal energy in a better and more environmentally friendly way, now more than ever.