New Delhi: Data from the Commerce & Industry Ministry reveals the Coal Index jumped 10.9% in November 2023, leading the pack of eight core industries. Compared to the previous year’s November, the Coal Sector score climbed from 167.5 to 185.7 points. Over the year, April-November 2023 saw a cumulative 12.8% increase in the coal sector’s index.
Combined, the eight core industries witnessed a 7.8% growth in November 2023 compared to the same period last year.
The Index of Core Industries tracks the combined and individual production performance of eight crucial sectors: cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.
The Coal Index’s surge is primarily fueled by a significant rise in coal production during November 2023. At 84.52 million tonnes, it surpassed the previous year’s corresponding month by 10.97%, exceeding even the earlier benchmark of 76.16 MT.
The Ministry of Coal has been instrumental in driving this growth through targeted initiatives. These include boosting domestic production via commercial coal mining auctions, collaborating with Mine Developer cum Operators to enhance output, and reviving discontinued mines on a revenue-sharing model for increased production.
The coal sector’s impressive growth and contribution to the eight core industries showcase the Coal Ministry’s ongoing efforts. These initiatives align with the “Atmanirbhar Bharat” vision, propelling the nation’s progress towards self-sufficiency and energy security.
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