Page 50 - Policy Economic Report - December 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

environmental impact. These initiatives, he stated, are crucial in driving the sector toward modernization
and greater operational efficiency.

The Additional Secretary and Nominated Authority, Ministry of Coal, Smt. Rupinder Brar highlighted the
need to explore more coal block as there is surging demand of coal. He stressed that leveraging private
investment and expertise is crucial for meeting the growing energy needs and ensuring steady coal supply
to various industries. By opening more coal blocks for exploration and encouraging private participation
will contribute the coal sector in achieving higher production targets.

The commencement of sale of tender document shall start December 05, 2024. Details of the mines,
auction terms, timelines etc. can be accessed on MSTC auction platform. The auction shall be held online
through a transparent two stage process, on the basis of Percentage Revenue Share.

India has doubled power generation through Nuclear Energy in last decade

India’s Nuclear power generation capacity has grown significantly in last one decade, nearly doubling from
4,780 MW in 2014 to 8,180 MW in 2024.

This was disclosed in the Lok Sabha by Union Minister of State (Independent Charge) for Science and
Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic
Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh addressed
the Lok Sabha, in response to a discussion on Nuclear power.

The Minister highlighted the significant progress and future potential of India's atomic energy program.
He elaborated on key developments and outlined a roadmap for achieving greater self-reliance in nuclear
power generation.

Dr. Jitendra Singh emphasized the revision of India’s power distribution framework, which has increased
the home state’s share of electricity from atomic plants to 50%, with 35% allocated to neighboring states
and 15% to the national grid. This new formula ensures equitable resource distribution and reflects the
federal spirit of the nation.

While highlighting how India’s Nuclear power generation capacity has grown significantly, nearly doubling
from 4,780 MW in 2014 to 8,180 MW in 2024, Dr Jitendra Singh added that the capacity is projected to
triple to 22,480 MW by 2031-32, showcasing India’s commitment to scaling up its nuclear energy
infrastructure.

The Union Minister attributed this progress to several transformative initiatives, including the bulk
approval of 10 reactors, increased funding allocations, collaborations with Public Sector Undertakings
(PSUs), and limited private sector participation. He credited advancements in technology and streamlined
administrative processes for strengthening India’s nuclear infrastructure.

In addition to energy production, Dr. Jitendra Singh highlighted the diverse applications of atomic energy.
He noted its extensive use in agriculture, including the development of 70 mutagenic crop varieties. In the

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