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India’s core sectors slipped to a nine-month

India’s core sectors slipped to a nine-month low

PWOnlyIAS

October 01, 2024

Output levels in India’s core sectors slipped to a nine-month low in August 2024, even as year-on-year growth slipped 1.8%, marking the first contraction in three and a half years.

About Index of Industrial Production

Industrial Production

  • 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 National Statistical Office (NSO), Ministry of Statistics and Programme Implementation.
  • It is a composite indicator that measures the growth rate of industry groups classified under:
    • Broad sectors, namely, Mining, Manufacturing, and Electricity.
    • Use-based sectors, namely Basic Goods, Capital Goods, and Intermediate Goods.
  • Base Year: 2011-2012.
    • The government is aiming to adopt a new base year for the IIP by 2026-27. 
    • The proposed new base year is 2020-21.

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About Eight Core Sectors

  • The main or the key industries constitute the core sectors of an economy. In India, there are eight sectors that are considered the core sectors. 
  • The eight core sector industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilisers.
  • They comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

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Quick Revise Now !
AVAILABLE FOR DOWNLOAD SOON
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध
Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

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