Ministry conducts SSRC meet focusing on R&D projects within coal sector
At the meeting, the Ministry of Coal sought suggestions for shaping the future course of R&D in the coal sector.
The Ministry of Coal highlighted the highest growth of 11.6 per cent in the coal sector among the eight core industries for the month of February.
Highlighting the Index of Eight Core Industries released by the Ministry of Commerce & Industries, the ministry said the index of coal industry reached 212.1 points during February 2024 as compared to 190.1 points during the same period of last year.
Its cumulative index has increased by 12.1 per cent during April to February, 2023-24 over corresponding period of the previous year.
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The coal industry has consistently outperformed demonstrating sustained double-digit growth over the past eight months and substantially higher growth than the overall growth of eight core industries in the last two financial years.
The driving force behind this remarkable growth can be attributed to a significant surge in coal production during February 2024, with output reaching 96.60 million tonnes, marking an increase of 11.83 per cent compared to the same period in the previous year, the ministry highlighted.
It is to be noted that the Combined Index of Eight Core Industries experienced a 6.7 per cent increase in February 2024, compared to the same period of the previous year.
The cumulative growth rate of Eight Core Industries from April to February 2023-24 is 7.7 per cent on a provisional basis as compared to the corresponding period of last year.
As per the government data, the production of Coal, Natural Gas, Cement, Steel, Crude Oil, Electricity, and Refinery Products recorded positive growth in February 2024.
The Index of Eight Core Industries measures the combined and individual production performance of eight core industries, viz. cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.
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