Mining Sector Current Affairs

IIP rises to 9-month high of 4.3% in August 2017

According to data released by Central Statistics Office (CSO), factory output measured in terms of Index of Industrial Production (IIP) has grown nine-month high to 4.3% in August 2017. This was mainly due to a robust performance of the mining and power sectors.

Key Facts

The manufacturing sector output grew 3.1% in August 2017, mining sector output surged 9.4% and electricity generation increased 8.3%. Production of capital good rose 5.4% in August 2017. Consumer durables output increased 1.6% and consumer non-durables output rose 6.9% in August 2017.

Index of Industrial Production (IIP)

The IIP is composite indicator that measures short-term changes in volume of production of basket of industrial products during given period with respect to chosen base period. It is compiled and published monthly by Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation.

The CSO had revised base year of IIP from 2004-05 to 2011-12 in May 2017 to capture structural changes in economy and improve quality and representativeness of indices. The revised IIP (2011-12) reflects changes in industrial sector and also aligns it with base year of other macroeconomic indicators like Wholesale Price Index (WPI) and Gross Domestic Product (GDP).

The IIP covers 407 item groups. Sector wise these items falls into 3 categories viz. Manufacturing (405 items), Mining (1 items) & Electricity (1 item). The weights of three sectors are 77.63%, 14.37%, 7.9% respectively. The revised eight core Industries have combined weightage of 40.27% in IIP.

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Government launches TAMRA Portal and Mobile App

The Ministry of Mines has launched Transparency, Auction Monitoring and Resource Augmentation (TAMRA) Portal and Mobile Application to ensure transparent award of statutory Clearances for mining operations

The TAMRA platform was simultaneously launched across 12 mineral rich states as a part of the Ease of Doing Business in the Mining sector and to double mining contribution to GDP.

Key Features
  • The TAMRA covers block-wise, state-wise and mineral-wise information of mines to be auctioned. It monitors various statutory clearances and also highlights the additional resources generated through e-auction.
  • It is an interactive platform to speed up mining activity by facilitating all the stakeholders to track the status of the statutory clearances associated with mining blocks.
  • In case of delay in obtaining any statutory clearances, TAMRA platform will send triggers to the concerned authority so that they can take remedial steps immediately.
  • The Union Ministry of Mines will also receive triggers generated by TAMRA, facilitating it in expediting clearances. Further, the status of each of the clearances will be reflected on the portal.
  • The portal also enables successful bidder to give suggestions and inputs. It will help to establish a participative and informative network among all stakeholders.

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