"The report of the committee is likely to be submitted by December 2013," an official said. (Agencies)
Finance Minister P Chidambaram had stated in his budget speech that there was a need to devise such a policy in order to reduce India's increasing dependence on imported coal. The committee, which has representatives from various ministries including Finance and Law and Justice, has met twice, since it was set up.
CIL, which accounts for over 80 percent of domestic coal production, achieved an output of only 452.5 million tonnes (MT) last fiscal, missing the target of 464 MT.
The Coal Ministry had earlier said that CIL would miss the production target for the 2012-13 by 2-3 million tonne. It had attributed the shortfall to workers strike and certain other issues.
The ministry has set a production target of 482 million tonnes and off-take of 492 million tonnes for CIL for the current fiscal. The gap between demand and supply of coal, which touched 135 MT last fiscal, may reach 140 million tonnes in 2013-14, and would be met through imports.
"The report of the committee is likely to be submitted by December 2013," an official said.