Coal Sector Leads Growth Among Core Industries in February 2024

Summary and Important Points:

1. Outstanding Performance:

• The coal sector recorded the highest growth rate of 11.6% among the eight core industries in February 2024.

1. Index of Eight Core Industries (ICI):

• Coal industry's index reached 212.1 points in February 2024, up from 190.1 points the previous year.

• The cumulative index for the coal sector rose by 12.1% from April to February 2023-24 compared to the same period last year.

1. Overall Core Industry Growth:

• The Combined Index of Eight Core Industries increased by 6.7% in February 2024 over the previous year.

1. Sustained Growth:

• Coal industry has shown double-digit growth for eight consecutive months, surpassing the overall growth of core industries in the last two financial years.

1. Production Surge:

• Coal production in February 2024 reached 96.60 million tonnes, an 11.83% increase over the same period in the previous year.

Additional Information:

• Eight Core Industries: Cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.

• Index of Eight Core Industries (ICI): Measures the performance of the eight core sectors, which account for about 40.27% of the weight of items included in the Index of Industrial Production (IIP).

Examination Perspective and Concise Points for Use:

• Understanding the significance of the coal sector's growth in the context of the overall performance of the core industries.

• The role of coal production in driving economic growth and energy security.

Key Words to Remember:

• Coal Sector Growth

• Eight Core Industries

• Index of Eight Core Industries (ICI)

• Coal Production

Link to Article : Press Information Bureau (pib.gov.in)

Released On : 01 April 2024