Coal India can tie-up with private sector: Rangarajan

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Summary“Coal India can use the private sector as an agency to mine coal and then buy it at agreed prices to boost production as a temporary measure,” Rangarajan said in a speech here.

The Chairman of the Prime Minister’s Economic Advisory Council (PMEAC) C Rangarajan on Saturday suggested that state-run miner Coal India should enter into arrangements with the private sector in order to increase coal production in the country.

“Coal India can use the private sector as an agency to mine coal and then buy it at agreed prices to boost production as a temporary measure,” Rangarajan said in a speech here.

One of the reasons for high current account deficit (CAD) was huge imports of coal by the power utilities, he said at a function here.

“Going by trends, coal production was now increasing and would have a sobering influence on CAD,” Rangarajan said adding this will also be helped by less rise in oil prices and decline in gold imports.

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