INDIAN CORE SECTOR AND IIP

The growth of eight core infrastructure sectors rose by 12.7% in June against 9.4% in the year-ago, period with all sectors except crude oil registering an uptick in production.

What are the Core Sector Industries?

The eight-core sector industries include coal, crude oil, natural gas, refinery products, fertilizer, steel, cement, and electricity.
All these core industries are considered as main or key industries of the economy and serve as the backbone of all other industries
The eight Core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial production.

Index of Industrial Production (IIP)

IIP is an indicator that measures the changes in the volume of production of industrial products during a given period.
It is compiled and published monthly by the Central Statistical Organization (CSO), Ministry of Statistics, and Programme Implementation.
The base year of the index has been revised to 2011-12 from 2004-05 in alignment with the new series of IIP.

It is a composite indicator that measures the growth rate of industry groups classified under:

Broad sectors: Mining, Manufacturing, and Electricity.
Use-based sectors: Basic Goods, Capital Goods, and Intermediate Goods.

Significance of IIP:

It is used by government agencies including the Ministry of Finance, the Reserve Bank of India, etc, for policy-making purposes.
IIP remains extremely relevant for the calculation of the quarterly and advance GDP (Gross Domestic Product) estimates.

Source: The Economic Times

Join Our Telegram

LOKTAK LAKE AND RECENT CONTROVERSY

Suspension Of MPs : Explained

Ministry of Minority Affairs-Year review

15 Jan, 24
SHARE

The Ministry was carved out of Ministry of Social Justice & Empowerment in 2006. Objective- To ensure a more focused approach towards issues relating to the notified minority communities - Muslim, Christian, Buddhist, Sikhs, Parsis and Jain. As per Census 2011, around 19.3% of the population belongs to minorities. Mandate- To f

Indian Railways in 2023 – Year Review

15 Jan, 24
SHARE

The Performance of Indian Railways in 2023 showed significant strides in infrastructure but reveals underwhelming freight loading and financial performance. How Indian Railways performed in 2023? Near completion of DFC – Dedicated Freight Corridors are nearing completion with more than 200 freight trains already runnin

Global Nuclear Order and Geopolitics

14 Jan, 24
SHARE

The Global Nuclear Order refers to the international system, agreements, norms, and structures that govern and regulate the use, possession, proliferation, and control of nuclear weapons and nuclear energy worldwide. It encompasses a complex network of treaties, agreements, and norms that have evolved over time to manage the risks associated wit

Supreme Court Judgments in 2023

14 Jan, 24
SHARE

The Supreme Court has delivered several landmark judgments in 2023. S.No Name of the Case Judgement 1 Vivek Narayan Sharma v. Union of India Upheld the decision taken by the Union Government to demonetise currency notes of Rs. 500 and Rs.10

Ministry of Health and Family Welfare – YEAR REVIEW

13 Jan, 24
SHARE

The Ministry is charged with health policy in India, which is also responsible for all government programs relating to family planning in India. Departments Department of Health and Family Welfare Department of Health Research Union Minister- Mansukh L. Mandaviya Health Missions National Health Mission (NHM) &