How does coal mine helps in the economic development of India write in 10 points
Answers
It said coal can help significant economic growth. India’s energy future and prosperity are integrally dependant upon mining and using its most abundant, affordable and dependant energy supply, which is coal.
"Coal is an extremely important element in the industrial life of developing India. In power, iron and steel, coal is used as an input and in cement, coal is used both as fuel and as an input. It is no exaggeration that coal is regarded by many as the black diamond," the bench said.
It said a number of major industrial sectors, including iron and steel production, depend on coal as a source of energy and coal’s potential as a feedstock for producing liquid transport fuels is huge in India.
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The economic development of any nation essentially is contingent on its industrial development. In India, coal is the most crucial indigenous energy resource and is the prevailing fuel for generation of power and numerous industrial applications, therefore contributing to industrial progress and economic growth
EXPLANATION:
Coal is a vital element in the industrial life of emerging India. The economic development of any nation essentially is contingent on its industrial development.
In India, coal is the most crucial indigenous energy resource and is the prevailing fuel for generation of power and numerous industrial applications, therefore contributing to industrial progress and economic growth. In iron, steel, and power industries coal is utilised as an input and in cement industry, coal is utilised both as input and as fuel.
Coal is considered as the mainstay of generation of power in India. There is great demand for power in India. Power is an indispensable and most critical factor for industrial and business establishments. India’s energy future and success are essentially dependent upon mining and utilising its most affordable, abundant, and dependent energy supply, which is coal.
It also contributes to the employment sector and provides employment to around 400,000 people. Rising economic growth necessitates increased energy consumption. Furthermore, there is a bidirectional causative effect between economic growth and energy consumption.
To be precise, increase in economic growth leads to increase in energy consumption, which in turn leads to economic growth. Coal has been the paramount energy source for India since it is found in abundance and is economical to exploit than the other energy resources.