When Piketty came to India
Thomas Piketty, the French economist and author of the famous book Capital in the Twenty First Century, was recently in India. He delivered a lecture on the state of inequality globally as well as in India.
The National Coal Index has shown a significant decline of 3.48% in June 2024.
The provisional figure said that the index was at 142.13 points compared to June 2023, where it was at 147.25 points.
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This notable decrease indicates sufficient availability of coal in market to meet the growing demands, the ministry of coal said.
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he National Coal Index (NCI) is a price index that combines coal prices from all sales channels, viz. Notified Prices, Auction Prices, and Import Prices. It considers prices of coking and non-coking coal of various grades transacted in the regulated (power and fertilizer) and non-regulated sectors.
Established with the base year as FY 2017-18, NCI serves as a reliable indicator of market dynamics, providing valuable insights of price fluctuations.
Additionally, the premium on coal auctions indicates the pulse of the industry, and the sharp decline in coal auction premium confirms the sufficient coal availability in the market, the ministry said.
The impressive growth of 14.58 % in the country’s coal production during Jun’24 as compared to the corresponding period of last year ensures a stable supply to various sectors reliant on coal, significantly contributing to the overall energy security of the nation, it added.
The downward trajectory of the NCI signifies a more equitable market, harmonizing supply and demand dynamics.
With sufficient coal availability, the nation can not only address burgeoning demands but also underpin its long-term energy requisites, thereby fortifying a more resilient and sustainable coal industry and fostering a prosperous future for the nation.
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