CABINET CLEARS INCENTIVES FOR GASIFICATION OF COAL RESERVES
Hindustan Times|January 25, 2024
Cabinet approves ₹8,500cr scheme for coal gasification
Rituraj Baruah and Utpal Bhaskar
CABINET CLEARS INCENTIVES FOR GASIFICATION OF COAL RESERVES

With the window for using coal closing fast, the Union Cabinet on Wednesday approved a ₹8,500 crore viability gap funding (VGF) scheme for coal gasification.

In another decision, the cabinet committee on economic affairs (CCEA) also approved an equity investment of ₹3,799.64 crore by Coal India Ltd for setting up coal gasification joint ventures with GAIL (India) Ltd and Bharat Heavy Electricals Ltd (BHEL). The push to leverage coal resources comes at a time when the Indian economy is projected to grow at 7%, becoming the third largest economy by 2030, with a focus on involving the private sector to reduce carbon emissions.

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