According to statistics issued by the Ministry of Commerce and sectors, the Index of Coal Industry increased by 10.9% (provisional) among eight essential sectors in November 2023.
Coal Sector scored 185.7 points in November, up from 167.5 points the previous month. The cumulative index of the coal sector climbed by 12.8% from April to November 2023-24 compared to the same period the previous year.
According to the most recent statistics, the Combined Index of eight Core Industries increased by 7.8% (Provisional) in November 2023 when compared to the same time the previous year.
The ICI assesses the combined and individual performance of eight main industries: cement, coal, crude oil, power, fertilizers, natural gas, and 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.
The note-worthy growth of the coal sector and its contribution to the overall growth of the eight core industries are a testament to the continuous initiatives undertaken by the Coal Ministry. These efforts align with the vision of “Atmanirbhar Bharat” and contribute to the nation’s progress towards self-sufficiency and energy security.
Stay Update with FELA NEWS!