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Consider the following statements regarding the National Coal Index:
- It considers only non-coking coal transacted in the regulated sectors.
- It is developed by the Indian Statistical Institute, Kolkata.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Consider the following statements regarding the National Coal Index: I...
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
- The NCI is a price index which reflects the change in the price level of coal on a particular month relative to the fixed base year.
- This price index combines the prices of coal from all the sales channels- Notified Prices, Auction Prices and Import Prices.
- It has been rolled out on 4th June 2020 and the aim is to have an index that will truly reflect the market price.
- The base year is FY 2017-18.
- The concept and design of the Index as well as the Representative Prices have been developed by the Indian Statistical Institute, Kolkata.
- The Index is meant to encompass all transactions of raw coal in the Indian market.
- This includes coking and non-coking of various grades transacted in the regulated (power and fertilizer) and non-regulated sectors.
- The NCI's upward movement indicates rising demand of coal because of upcoming festive season and winter in the country, which will encourage coal producer to take maximum benefit by further scaling-up domestic coal production to meet the growing energy demands.
Hence only statement 2 is correct.
Most Upvoted Answer
Consider the following statements regarding the National Coal Index: I...
Statement 1: It considers only non-coking coal transacted in the regulated sectors.
The National Coal Index is a price index that tracks the changes in the price of coal in India. It is used as a benchmark for determining the coal prices in the country. The statement mentions that the index considers only non-coking coal transacted in the regulated sectors.
Non-coking coal refers to coal that cannot be used for the production of coke, which is an essential component in the steelmaking process. On the other hand, coking coal is used for the production of coke and is primarily used in the steel industry.
The regulated sectors refer to the sectors where the government has imposed regulations and controls on the coal industry. This includes sectors such as power generation, cement, and fertilizer production.
Therefore, statement 1 is correct as the National Coal Index indeed considers only non-coking coal transacted in the regulated sectors.
Statement 2: It is developed by the Indian Statistical Institute, Kolkata.
The National Coal Index is not developed by the Indian Statistical Institute, Kolkata. It is developed and maintained by Coal India Limited (CIL), which is a state-owned coal mining company in India. CIL is the largest coal producer in the world and is responsible for the majority of coal production in India.
Therefore, statement 2 is incorrect as the National Coal Index is not developed by the Indian Statistical Institute, Kolkata.
In conclusion, only statement 1 is correct, and statement 2 is incorrect. The National Coal Index considers only non-coking coal transacted in the regulated sectors, but it is not developed by the Indian Statistical Institute, Kolkata.
The National Coal Index is a price index that tracks the changes in the price of coal in India. It is used as a benchmark for determining the coal prices in the country. The statement mentions that the index considers only non-coking coal transacted in the regulated sectors.
Non-coking coal refers to coal that cannot be used for the production of coke, which is an essential component in the steelmaking process. On the other hand, coking coal is used for the production of coke and is primarily used in the steel industry.
The regulated sectors refer to the sectors where the government has imposed regulations and controls on the coal industry. This includes sectors such as power generation, cement, and fertilizer production.
Therefore, statement 1 is correct as the National Coal Index indeed considers only non-coking coal transacted in the regulated sectors.
Statement 2: It is developed by the Indian Statistical Institute, Kolkata.
The National Coal Index is not developed by the Indian Statistical Institute, Kolkata. It is developed and maintained by Coal India Limited (CIL), which is a state-owned coal mining company in India. CIL is the largest coal producer in the world and is responsible for the majority of coal production in India.
Therefore, statement 2 is incorrect as the National Coal Index is not developed by the Indian Statistical Institute, Kolkata.
In conclusion, only statement 1 is correct, and statement 2 is incorrect. The National Coal Index considers only non-coking coal transacted in the regulated sectors, but it is not developed by the Indian Statistical Institute, Kolkata.
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Consider the following statements regarding the National Coal Index: It considers only non-coking coal transacted in the regulated sectors. It is developed by the Indian Statistical Institute, Kolkata.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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