Coal Current Affairs

Core sector grows at 6.7% in January 2018

According to index of eight core industries released by Ministry of Commerce and Industry, Core sector growth has grown at faster pace of 6.7% in January 2018 against 3.4% in January 2017. The eight core sectors had grown by 4.2% in December 2017 and 7.4% in November 2017.

Key Facts

Cumulatively, the growth in eight core sectors during April-January this fiscal slowed to 4.3% as against 5.1% in the same period last fiscal. The growth in key sectors will have implications for Index of Industrial Production (IIP) as these eight segments account for about 41% of the total factory output.

Breakup of January performance:

  • Petroleum refinery production: It jumped up by 11%.
  • Cement output: It jumped up by 20.7%.
  • Electricity generation: Its growth rose to 8.2%.
  • Coal sector output: It improved by 3%.
  • Steel production: It grew by 3.7%.
  • Crude oil production: It dropped by 3.2%.
  • Fertiliser output: It dropped by 1.6%.
  • Natural gas: Its output fell by 1%.

Core Industry sector

Core industry can be defined as main industry of the economy. In most countries, there is particular industry that seems to be backbone of all other industries and it qualifies to be the core industry. In India, there are eight core sectors comprising of coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity.

Latest weightage in core sectors: Petroleum Refinery production (weight: 28.04%), Electricity generation (19.85%), Steel production (17.92%), Coal production (10.33%), Crude Oil production (8.98%), Natural Gas production (6.88%), Cement production (5.37%), Fertilizers production (2.63%)

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Australia approves Carmichael coal mine project of Adani Group

Australian Government has given its approval for Adani Group’s Carmichael coal mine and rail project in accordance with environment laws of country.

The approval has been granted subject to 36 of the strictest conditions in Australian history.

Earlier in August 2015 Australian court had temporarily blocked the project because of environmental concerns.

Carmichael coal mine which is one of the world’s biggest coal mines is to be built by Adani Mining Pty Ltd, a wholly-owned subsidiary of the Adani Group.

The project was first proposed in 2010 and is an open-cut underground coal mine located approximately 300km inland in remote central Queensland area in Australia.

The Carmichael project and 189 km rail line is worth 16 billion Australian dollars with a yield of 60 million tonnes per annum for export mostly to India.

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