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A greater need for coal production was felt in India during the First Five Year Plan. In 1951, a working group for the coal industry was set up which suggested the amalgamation of small and fragmented producing units. Thus, the idea for a nationalised unified coal sector was born. National Coal Development Corporation with 11 collieries was formed with the task of exploring new fields and expediting development of new coal mines. Coal India Limited (CIL) a wholly owned company by Government of India was formed in November, 1975.
Now India is the third largest coal producing country next to China and USA.
Coal India is the apex body with 8 wholly owned coal producing subsidiary companies covering the whole gamut of coal extraction, identification, exploration and production processes.
CIL contributes 88 per cent of coal produced in India and is the single largest coal producing company in the world.
Coal India is the largest public sector company in India and the prime energy provider to the nation.
Power sector is the largest coal consuming sector in India accounting for around 77 per cent of the total coal consumption.
For the first time since inception, CIL surpassed 300 million tonne mark of production and achieved 306.38 million tonne production in 2003-04. It despatched 304.29 million tonne of coal with a growth of 5.2 per cent.
CIL, during 2003-04, achieved a turn over of Rs.96,700 crore with a growth of 8.2 per cent than the previous year.
Coal India has a production target of 350 million tonnes for 2006-07.
During the Xth Plan, Coal India envisages an investment of Rs.14,310 crore, out of which Rs.6,344 crore will be for the new projects.
CIL and its subsidiaries have formulated appropriate guidelines for peripheral community development of nearby villages of coalfield areas by providing wells, roads, community buildings and schools.