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India coal sector shows highest growth among core industries in Feb 2024

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The coal sector in India has exhibited highest growth of 11.6 per cent (provisional) among the eight core industries for the month of February 2024 as per the Index of Eight Core Industries (ICI) released by Ministry of Commerce and Industries.

The index of coal industry has reached 212.1 points during February 2024 as compared to 190.1 points during the same period of last year and its cumulative index has increased by 12.1 per cent during April to February, 2023-24 over corresponding period of 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 Combined Index of Eight Core Industries experienced 6.7 per cent increase in February 2024, compared to the same period of previous year.

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 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.