National Coal Index Increases by 3.83 points in September

India’s National Coal Index (NCI) witnessed a significant increase, rising 3.83 points to 143.91 in September. This boost was the first since April 2023 and was driven by a temporary spike in global coal prices, according to the Union Coal Ministry.

Understanding the NCI

  • NCI is a price index that combines coal prices from various sources like sales channels, notified prices, auction prices, and import prices. It helps determine premiums and revenue shares based on market demand.

Reasons Behind the Rise

  • The rise in NCI indicates a growing demand for coal due to the upcoming festive season and winter in India.
  • This trend encourages coal producers to increase domestic coal production to meet the rising energy demands.

Demand from Power Sector

  • India has experienced a surge in coal demand, particularly from the power sector, driven by increasing power needs.
  • Power plants have continued importing coal, following government mandates to blend imported coal.

Production Statistics

  • In the current fiscal year (April-October), India produced 507.01 million metric tonnes of coal, showing a 13.02% year-on-year growth.
  • The government aims to reach an annual production of 1 billion tonnes this fiscal year.

Captive and Commercial Mines

  • Captive and commercial mines have collectively produced 75.94 million tonnes so far and are expected to reach 162 million tonnes by the fiscal year-end.
  • In the previous fiscal year (FY23), India produced 893.19 million tonnes of coal, showing a 14.77% growth from the previous year.

Find More News on Economy Here

 

 

Piyush Shukla

Recent Posts

Zimbabwe Launches ZIMSAT-2 to Advance Space Programme

Zimbabwe has launched its second satellite, ZIMSAT-2, from the Vostochny Cosmodrome in Russia, a major…

21 mins ago

4th LG Cup Horse Polo-2024 Tournament Inaugurated in Ladakh

Brigadier (Dr) BD Mishra (Retd), the Lieutenant Governor of Ladakh, inaugurated the much-awaited 4th LG…

48 mins ago

$200 Million Deal Signed to Enhance Uttarakhand’s Green Mobility and Urban Infrastructure

The Indian government has signed a $200 million loan agreement with the Asian Development Bank…

53 mins ago

Deutsche Bank Infuses ₹5,113 Crore to Boost India Operations

Deutsche Bank has injected ₹5,113 crore into its Indian operations, marking its largest capital infusion…

1 hour ago

Which National Park of Madhya Pradesh is Famous for Asiatic Lions?

Madhya Pradesh is a state in India known for its rich wildlife and beautiful forests.…

2 hours ago

Switzerland’s Burqa Ban Law to Take Effect in 2025

Switzerland is set to enforce its controversial "burqa ban" starting January 1, 2025, following approval…

2 hours ago