The Economic Survey 2024 reinforces the crucial role of coal in India’s energy landscape, noting its ongoing importance as a reliable and affordable source of energy for the country’s development. Despite global shifts toward renewable energy, the Survey argues that coal cannot be neglected in India’s quest for sustainable development due to the country’s unique resource endowments.India, which possesses approximately 10% of the world’s coal reserves, has a longstanding reliance on this resource for its power generation.Read Also | Global trade spats could derail India's 2070 net-zero goals: Economic Survey 2024The Survey underscores that, unlike many developed economies that are moving toward green energy alternatives, India remains heavily dependent on coal. This reliance is further amplified by the country’s limited natural gas reserves—only 0.7% of the global total. Given these resource constraints, coal remains the most viable energy source to fuel India’s growing economy and meet the increasing demand for electricity.No rationale for immediate shutdown The report makes a strong case against the economic rationale of shutting down coal plants without a dependable and scalable alternative in place. The Economic Survey notes that most of India’s coal-fired power plant capacity additions occurred during the 2010s, signalling that coal infrastructure is still relatively new and underutilised. Shutting down coal plants prematurely would result in the waste of substantial investments made in the last decade, leaving these assets stranded without viable alternatives in place. Such a move, the Survey suggests, would not only be economically unsound but would also hinder India's ability to meet its energy needs and development goals.Read Also | Economic Survey offers the Singapore solution for India's citiesWhile the global trend is leaning toward decarbonisation and renewable energy adoption, India's unique energy challenges require a balanced approach. The Survey stresses that, for India, coal continues to be the backbone of the energy system, providing both affordability and reliability.The Economic Survey 2024 calls for a pragmatic and measured approach to India’s energy transition. While the country works toward a greener future, it must continue to rely on coal as a key energy source to support development, avoid stranded investments, and ensure energy security. The path to a sustainable energy future, the Survey asserts, requires a careful balance of renewable energy adoption and continued reliance on coal until viable alternatives can be scaled effectively.