New Delhi: The Index of Eight Core Industries released by the Ministry of Commerce & Industries for September shows that the index of the coal sector has grown by 16.1 percent year-on-year. The figure was at 148.1 points in September as opposed to 127.5 points during the corresponding month last year. This is the highest growth in the last 14 months except for August 2023, said the Ministry of Coal in a statement on Thursday.
The significant growth in the coal sector can be attributed to a substantial upswing in coal production during September, which reached an impressive 67.27 MT, surpassing the figure of 58.04 MT during the corresponding period of the previous year. This represented an increase of 15.91 percent. The coal industry registered a growth of 9.1 percent in April this year which rose to 16.1 percent in September, showcasing consistent and sustained growth.
“The Ministry of Coal has played a pivotal role in driving this growth through various strategic initiatives. These initiatives include the amendment of the Mines and Minerals (Development and Regulation) Act, 2021, allowing captive mines to sell coal or lignite, augmenting domestic production through the auction-based regime for commercial coal mining, engaging Mine Developer cum Operators (MDOs) to ramp up domestic coal output and the reopening of discontinued mines on a revenue-sharing model to boost coal production,” said the Coal Ministry.
The remarkable growth of the coal sector and its contribution to the overall growth of the eight core industries are a testament to the continuous efforts and initiatives undertaken by the Ministry of Coal. These efforts align with the vision of ‘Atmanirbhar Bharat’ and contribute to the nation’s progress towards self-sufficiency and energy security,” the ministry added.
The latest data indicates that the Combined Index of Eight Core Industries has shown a noteworthy increase of 8.1 percent (provisional) in September compared to the same period in the previous year. The index measures the combined and individual production performance of eight core industries — cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products and steel — as a way to measure the pace of economic growth.