Jharkhand Must Diversify Beyond Coal As Thermal Power Demand Declines: Rakesh Mohan

Ranchi, Oct 5 (KNN) States such as Jharkhand need to diversify their economies beyond coal mining as demand for coal from the power sector is expected to decline in the coming years, Rakesh Mohan, member of the Economic Advisory Council to the Prime Minister, said on Wednesday.

Speaking to the media, Mohan said declining thermal power generation and increasing mechanisation in mines could reduce employment opportunities for workers dependent on the coal sector.

Declining Coal Demand May Affect Jobs

“As thermal production decreases in the coming years, dependence on coal for power generation is set to decline. Mechanisation of mines would also lay off the workers,” he said.

Mohan said coal-producing states, including Jharkhand, should identify sectors that could absorb workers who may be displaced from mining activities, reported Times Of India.

Education Needed to Prepare Future Workforce

He also emphasised the need to strengthen the education system to improve employment opportunities for the future workforce.

“Enhancing the education system to ensure employment for the future generation should be among the priorities,” he said.

Mohan Backs Proposed UPI Transaction Charge

On the proposed 0.4 per cent charge on Unified Payments Interface (UPI) transactions beyond a specified limit, Mohan supported the measure, saying the cost of operating the digital payments system has increased.

Russian Oil Imports and Global Prices

Commenting on global energy markets, Mohan said India’s imports of Russian oil had contributed to increasing overall global oil supplies, which, according to him, helped moderate international prices.

He said the Indian government had maintained domestic oil prices despite supply-related challenges, although this had resulted in a fiscal impact to some extent.

Push for Labour-Intensive Industries and Exports

Mohan also stressed the need to promote labour-intensive industries and expand India’s exports to ASEAN countries as part of efforts to create employment and diversify economic opportunities.

(KNN Bureau)