Coal sector records 16.1 per cent growth in September among eight core industries
Nov 02, 2023
New Delhi [India], November 2 : The coal sector achieved a remarkable 16.1 per cent growth in September, marking a significant uptick in production among the eight core industries, according to data released by the Ministry of Commerce and Industries.
This outstanding performance in the coal sector has propelled it to reach an index of 148.1 points, compared to 127.5 points during the same period in the previous year. This growth represents the highest in the last 14 months, except for August 2023, read the press release by the Ministry of Coal.
The latest figures reveal that the Combined Index of eight Core Industries has recorded a noteworthy increase of 8.1 per cent (Provisional) in September 2023 compared to the corresponding period in the previous year.
The Index comprehensively measures the production performance of eight core industries, including cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel, read the press release.
The remarkable growth in the coal sector can be primarily attributed to a substantial upswing in coal production during September 2023, with an impressive 67.27 million tonnes (MT) of coal being produced.
This achievement significantly surpasses the 58.04 MT produced during the corresponding period of the previous year, marking an outstanding increase of 15.91 per cent.
The coal industry has displayed consistent and sustained growth, with a growth rate of 9.1 per cent in April 2023, which escalated to 16.1 per cent in September 2023, read the press release.
The Ministry of Coal has played a pivotal role in driving this growth through a series of strategic initiatives.
These initiatives encompass amendments to the Mines and Minerals (Development and Regulation) Act, 2021, allowing captive mines to sell coal or lignite, augmenting domestic production through an auction-based regime for commercial coal mining, engaging Mine Developer cum Operators (MDOs) to enhance domestic coal output, and the reopening of discontinued mines on a revenue-sharing model to boost coal production, read the release.
The substantial growth of the coal sector and its notable contribution to the overall expansion of the eight core industries underscore the continuous efforts and initiatives undertaken by the Ministry of Coal.
These endeavours are in alignment with the vision of "Atmanirbhar Bharat" and significantly contribute to the nation's progress toward self-sufficiency and energy security.
