Increased output by Coal India has resulted in savings of about 17 thousand crore rupees in only first nine months of the current fiscal. Coal Secretary Anil Swarup told this to PTI, adding that increased production of coal has resulted in decline in imports. He said Coal India is likely to hit a record production in the range of 540 million tonnes to 550 this fiscal. Mr Swarup said increased production has not only resulted in enhanced energy production but also made available coal stock for 24 days with power plants, from the earlier three to seven days. Coal India is the single largest producer of coal in the world and the government has set a target of doubling its production to one billion tonnes by 2020.Power and Coal Minister Piyush Goyal had earlier said that coal shortages will be a thing of the past and India will not need to import coal by 2017, except to meet requirements of power plants located near coastal areas.