Coal Sector Achieves Highest Growth of 10.2 % among Eight Core Industries in January 2024

This passage highlights the significant growth of India's coal sector in January 2024:

• Top Performer: The coal industry achieved the highest growth (10.2%) among eight key industrial sectors (coal, cement, steel, etc.) in January 2024.
• Index Rise: The coal industry index reached 218.9 points, exceeding the previous year's January record.
• Production Surge: Coal production in January 2024 witnessed a remarkable 10.2% increase compared to the same period last year, reaching 99.73 million tonnes.
• Impact on Overall Industry: This growth significantly contributed to the 3.6% rise in the Combined Index of Eight Core Industries.
• Consistent Performance: The coal sector has shown sustained double-digit growth for the past seven months, exceeding the overall growth of the eight core industries in the past two years.

Reasons for Growth:

• Increased Demand: The surge in coal production is likely driven by a rise in demand from the energy and manufacturing sectors.

Policy and Initiatives:

• The passage credits the Ministry of Coal's efforts and proactive initiatives for this achievement.
• These efforts are aligned with the "Atmanirbhar Bharat" (Self-reliant India) vision, promoting self-sufficiency and energy security.
   

Also Read: International: Weekly Current Affairs Bitbank (February 19 to 25, 2024): Where is the INDUS-X Summit scheduled to take place?

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Published date : 13 Mar 2024 10:36AM