Coal sector achieves 10.9% growth among 8 core industries in Nov

The index of coal industry has achieved a growth of 10.9% in November 2023, as per the data released by the ministry of commerce & industries. The index measures the production performance of core industries including cement, crude oil, electricity, fertilizers, natural gas, refinery products, steel, and coal.

The growth in the index is mainly due to a surge in coal production, reaching 84.52 Million Tonne in November 2023. The cumulative index of the coal sector during April November 2023 24 has increased by 12.8%. File photo: IANS NEW DELHI: The index of coal industry has achieved a growth of 10.9 per cent (provisional) among eight core industries , during November 2023, as per the data released by the ministry of commerce & industries.

The coal sector achieved 185.7 points in November, compared to 167.5 points, in the same time last year, the release added. The index of coal industry (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 an increase of 10.97 per cent. Meanwhile, the cumulative index of the coal sector during April November, 2023 24 has increased by 12.8 per cent over the corresponding period of the previous year.

The ministry of coal has played a pivotal role in driving this growth through various strategic initiatives. These include augmenting domestic production through an 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, the statement said.

FOLLOW US ON SOCIAL MEDIA Visual Stories Previous 10 Most Affordable Cities in India to Buy a House business Most Visited Monuments in India business The Pros and Cons of Investing in Value Stocks business Investing in Small Cap Stocks: Top 10 Tips for Absolute Beginners business 10 Ways to Earn Money Online by Selling Physical Products business Richest Cricket Players Across the World business 10 Things You Didn’t Know About Warren Buffett’s Investment Process business Priyanka Chopra Net Worth: Know How Rich is Global Actress business Top 10 Benefits of Investing in Small Cap Stocks business 15 Best Tax Saving Schemes in India business Next 1 2 3 Elections Chhattisgarh CM News MP CM News Rajasthan Election Results MP Election Result 2023 Chhattisgarh Election Result Mizoram Election Result TOP TRENDS India Covid Cases ISRO XPoSat launch Horoscope Today David Warner Happy New Year 2024 Wishes PM Modi Ayodhya Visit.