{"id":135246,"date":"2024-10-01T19:34:48","date_gmt":"2024-10-01T14:04:48","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=135246"},"modified":"2025-02-13T15:58:47","modified_gmt":"2025-02-13T10:28:47","slug":"industrial-production-slipped-to-a-nine-month-low","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/industrial-production-slipped-to-a-nine-month-low","title":{"rendered":"India\u2019s core sectors slipped to a nine-month low"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Output levels in India\u2019s core sectors<\/span><b> slipped to a nine-month low in August 2024<\/b><span style=\"font-weight: 400;\">, even as year-on-year growth slipped 1.8%, marking the first contraction in three and a half years.<\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>About Index of Industrial Production<\/b><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-135221 alignright\" src=\"https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/10\/15-66fbfb111d4c0.webp\" alt=\"Industrial Production\" width=\"397\" height=\"408\" srcset=\"https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/10\/15-66fbfb111d4c0.webp 698w, https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/10\/15-66fbfb111d4c0-292x300.webp 292w\" sizes=\"(max-width: 397px) 100vw, 397px\" \/><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">IIP is an indicator that <\/span><b>measures the changes in the volume of production<\/b><span style=\"font-weight: 400;\"> of industrial products during a given period.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">It is compiled and published <\/span><b>monthly by the National Statistical Office (NSO<\/b><span style=\"font-weight: 400;\">), Ministry of Statistics and Programme Implementation.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">It is a<\/span><b> composite indicato<\/b><span style=\"font-weight: 400;\">r that measures the <\/span><b>growth rate of industry groups<\/b><span style=\"font-weight: 400;\"> classified under:<\/span>\n<ul>\n<li><b>Broad sectors, <\/b><span style=\"font-weight: 400;\">namely, Mining, Manufacturing, and Electricity.<\/span><\/li>\n<li><b>Use-based sectors<\/b><span style=\"font-weight: 400;\">, namely Basic Goods, Capital Goods, and Intermediate Goods.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Base Year: 2011-2012.<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The government is aiming to adopt a <\/span><b>new base year<\/b><span style=\"font-weight: 400;\"> for the IIP <\/span><b>by 2026-27.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The <\/span><b>proposed<\/b><span style=\"font-weight: 400;\"> new base year is <\/span><b>2020-21<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-modules?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Modules\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Check Out UPSC Modules From PW Store<\/span><\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>About Eight Core Sectors<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The main or the key industries <\/span><b>constitute the core sectors of an economy<\/b><span style=\"font-weight: 400;\">. In India, there are eight sectors that are considered the core sectors.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The <\/span><b>eight core sector industries<\/b><span style=\"font-weight: 400;\"> in decreasing order of their<\/span><b> weightage<\/b><span style=\"font-weight: 400;\">: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilisers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">They <\/span><b>comprise 40.27% <\/b><span style=\"font-weight: 400;\">of the <\/span><b>weight of items<\/b><span style=\"font-weight: 400;\"> included in the<\/span><b> Index of Industrial Production (IIP).<\/b><\/li>\n<\/ul>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 100.043%;\">\n<tbody>\n<tr>\n<td style=\"width: 130.811%; text-align: center; border-style: solid; border-color: #000000;\" colspan=\"2\"><span style=\"font-size: 18pt;\"><b>Must Read<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 50.5357%; 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