Coal Sector Shows Highest Growth of 11.6 % among Eight Core Industries in February 2024
The ICI measures the combined and individual production performance of eight core industries, which include cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.
![Coal Sector Shows Highest Growth of 11.6 % among Eight Core Industries in February 2024](https://www.psuconnect.in/sdsdsd/coal45.jpg)
The coal sector has exhibited the highest growth of 11.6 % (provisional) among the eight core industries for February 2024 as per the Index of Eight Core Industries (ICI)) with Base Year 2011-12, released by the Ministry of Commerce & Industries.
The index of the coal industry has reached 212.1 points during Feb’24 as compared to 190.1 points during the same period of last year and its cumulative index has increased by 12.1% from April to February 2023-24 over the corresponding period of the previous year.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYThe Combined Index of Eight Core Industries experienced a 6.7% increase in February 2024, compared to the same period of the 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 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% compared to the same period in the previous year.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail deposits
News Must Read
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh