Coal Sector Achieves Impressive 16.1 % Growth in September among Eight Core Industries
67.27 Million Tonne Coal Produced in September against 58.04 MT Last Year
Coal Ministry’s Recent Strategic Initiatives drive the Growth
As per the index of eight Core Industries for the month of September 2023 released by the Ministry of Commerce & Industries, the index of coal sector has showcased impressive growth of 16.1% reaching 148.1 points compared to 127.5 points during the same period last year. This is the highest growth in last 14 months except for August 2023.
The latest data indicates that the Combined Index of eight Core Industries has shown noteworthy increase of 8.1% (Provisional) in September 2023, compared to the same period in the previous year.
The Index 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 significant growth in the coal sector is attributed to a substantial upswing in coal production during September 2023, which reached an impressive 67.27 MT, surpassing the figure of 58.04 MT during the corresponding period of the previous year, representing a remarkable increase of 15.91%. The Coal Industry registered a growth of 9.1% in Apr’2023 which rose to 16.1% in Sept’2023, 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.
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.