Coal Sector Achieves 10.9 % Growth among Eight Core Industries in November 2023.
Sakshi Education
- The Index of Coal Industry has achieved a growth of 10.9 % (provisional) among eight core industries, during the month of November 2023, as per the data released by the Ministry of Commerce & Industries. Coal Sector achieved 185.7 points in November compared to 167.5 points, same time last year. The cumulative index of coal sector during April – November, 2023-24 has increased by 12.8 % over the corresponding period of the previous year.
- The latest data indicates that the Combined Index of eight Core Industries has shown an increase of 7.8% (Provisional) in November 2023, compared to the same period of the previous year.
- The ICI measures the combined and individual production performance of eight core industries, viz. cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products and steel.
- The growth in the Index of Coal Industry is mainly due to a substantial surge in coal production during the month of November 2023, reaching 84.52 Million Tonne (MT), surpassing 76.16 MT of the corresponding month of the previous year, representing a remarkable increase of 10.97%.
- The Ministry of Coal has played a pivotal role in driving this growth through various strategic initiatives. These include augmenting domestic production through auction-based regime for commercial coal mining, engaging Mine Developer cum Operators (MDOs) to ramp up domestic coal output and reopening of discontinued mines on a revenue-sharing model to boost coal production.
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Published date : 02 Jan 2024 03:57PM