Coal Sector surges as October production hits 78.65 MT, marking 18.59% growth
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In October 2023, coal production soared to 78.65 Million Tonne, marking an 18.59% increase from the previous year’s 66.32 Million Tonne. The Coal Industry Index exhibited substantial growth, rising from 9.1% in April to an impressive 18.4% in October 2023, reaching 172.6 points. This surge in the Index of Coal Industry significantly contributed to the overall 12.1% growth in the Combined Index of eight Core Industries for October 2023.
The Ministry of Coal’s strategic initiatives, including an auction-based regime for commercial coal mining and engaging Mine Developer cum Operators (MDOs), played a pivotal role in achieving this growth. By reopening discontinued mines on a revenue-sharing model, the ministry boosted coal production, aligning with the vision of “Atmanirbhar Bharat” and reinforcing the nation’s journey towards self-sufficiency and energy security. The consistent and sustained growth in the Index of Coal Industry underscores the success of these efforts.
