Coal surges 10.2 %in May 2024

05 Jul 2024 CW Team

The coal sector emerged as the top performer in May 2024, achieving a 10.2% growth, according to the Index of Eight Core Industries (ICI) data released by the Ministry of Commerce & Industries. The coal industry's index rose to 184.7 points, up from 167.6 points in the same period last year. Over the April-May 2024-25 period, the cumulative index for coal increased by 8.9% compared to the previous year. The coal sector's index reached 184.7 points in May 2024, up from 167.6 points in May 2023. This marks a 10.2% year-on-year growth. The cumulative index for coal saw an 8.9% increase during April-May 2024-25 over the corresponding period of the previous year. The ICI, which uses 2011-12 as its base year, evaluates the production performance of eight core industries: cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel. The Combined Index of Eight Core Industries experienced a notable 6.3% rise in May 2024 compared to the same period in the previous year. This underscores the coal sector's substantial contribution to overall industrial growth. The coal sector has consistently outperformed its counterparts, demonstrating higher growth than the overall growth of the eight core industries in the last two financial years. In May 2024, coal production reached 83.91 million tonnes, marking a 10.15% increase compared to the same period in the previous year. This production boost highlights the sector's capability to meet the growing energy and manufacturing demands. The robust performance of the coal sector is attributed to the Ministry of Coal's persistent efforts and proactive initiatives. These efforts align with the ?Atmanirbhar Bharat? vision, aiming to enhance the nation's self-sufficiency and energy security. The Ministry's initiatives have played a critical role in bolstering the sector's capacity and output, contributing significantly to the overall growth of the core industries. "The coal industry has consistently outperformed its counterparts, demonstrating higher growth than the overall growth of the eight core industries in the last two financial years," a statement from the coal ministry said.

"The exceptional expansion of the coal sector, coupled with its substantial role in driving the overall growth of the eight core industries, stands as evidence of our dedicated efforts," a coal ministry official added. By achieving significant growth, the coal sector is reinforcing its pivotal role in India's industrial landscape, driving forward the nation's energy and manufacturing capabilities. (Source: ET)

The coal sector emerged as the top performer in May 2024, achieving a 10.2% growth, according to the Index of Eight Core Industries (ICI) data released by the Ministry of Commerce & Industries. The coal industry's index rose to 184.7 points, up from 167.6 points in the same period last year. Over the April-May 2024-25 period, the cumulative index for coal increased by 8.9% compared to the previous year. The coal sector's index reached 184.7 points in May 2024, up from 167.6 points in May 2023. This marks a 10.2% year-on-year growth. The cumulative index for coal saw an 8.9% increase during April-May 2024-25 over the corresponding period of the previous year. The ICI, which uses 2011-12 as its base year, evaluates the production performance of eight core industries: cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel. The Combined Index of Eight Core Industries experienced a notable 6.3% rise in May 2024 compared to the same period in the previous year. This underscores the coal sector's substantial contribution to overall industrial growth. The coal sector has consistently outperformed its counterparts, demonstrating higher growth than the overall growth of the eight core industries in the last two financial years. In May 2024, coal production reached 83.91 million tonnes, marking a 10.15% increase compared to the same period in the previous year. This production boost highlights the sector's capability to meet the growing energy and manufacturing demands. The robust performance of the coal sector is attributed to the Ministry of Coal's persistent efforts and proactive initiatives. These efforts align with the ?Atmanirbhar Bharat? vision, aiming to enhance the nation's self-sufficiency and energy security. The Ministry's initiatives have played a critical role in bolstering the sector's capacity and output, contributing significantly to the overall growth of the core industries. The coal industry has consistently outperformed its counterparts, demonstrating higher growth than the overall growth of the eight core industries in the last two financial years, a statement from the coal ministry said. The exceptional expansion of the coal sector, coupled with its substantial role in driving the overall growth of the eight core industries, stands as evidence of our dedicated efforts, a coal ministry official added. By achieving significant growth, the coal sector is reinforcing its pivotal role in India's industrial landscape, driving forward the nation's energy and manufacturing capabilities. (Source: ET)

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