Context:
Core sector output tanks for the first time in 42 months.
Core Industries:
- The core sector comprises 8 fundamental sectors crucial to the Indian economy.
- Sectors Included – Coal, Crude Oil, Natural Gas, Refinery Products, Fertilisers, Steel, Cement, and Electricity.
- Contribution to IIP – These sectors account for nearly 40.27% of the overall Index of Industrial Production (IIP).
Index of Industrial Production (IIP):
- An indicator that measures changes in the volume of production of industrial products over a given period.
- Publication – Compiled and published monthly by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation.
- Classification –
- Broad Sectors – Mining, Manufacturing and Electricity
- Use-based Sectors – Basic Goods, Capital Goods and Intermediate Goods
- Base Year – 2011-2012
Index of Eight Core Industries:
- Released By – Office of Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
- Base Year – 2011-2012
- Highest Weightage – Refinery products.
- Lowest Weightage – Fertilisers.
Source: The Hindu
Previous Year Question
In the ‘Index of Eight Core Industries’, which one of the following is given the highest weight?
[UPSC Civil Services Exam – Prelims 2015]
(a) Coal production
(b) Electricity generation
(c) Fertilizer production
(d) Steel production
Answer: (b)
(Previously, Electricity was having the highest weightage. Currently, Refinery Products has the highest weightage)
