CORE SECTOR OUTPUT

Related Articles

India-Korea Electronic Origin Data Exchange System (EODES)

December 10, 2023

Biosphere Reserve

November 3, 2023

Cheetahs in India

September 29, 2023

India’s eight core sector industries showed a robust growth of 8.4% in April compared to 4.9% in March 2022.

• The eight core sector industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
• The eight core sector industries in decreasing order of their weightage are: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
• Index of Eight Core Industries (ICI) fers to the production volume index.
• It evaluates the combined as well as individual performance of production in selected eight core industries.
• The current weightage (April 2021), of eight core industries is given below:
• Petroleum Refinery production (28.04%), Electricity (19.85%), Steel (17.92%), Coal production (10.33%), Crude Oil (8.98%), Natural Gas production (6.88%), Cement production (5.37%), Fertilizer production (2.63%).
• ICI is compiled and released by the Office of Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
• ICI provides advance indication on production performance of industries of ‘core’ nature prior to the IIP release by the National Statistical Office, NSO.
• General economic activities and industrial activities are likely to get impacted by the eight core industries.

Index of Industrial Production

• Index of 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 compIndia’s eight core sector industries showed a robust growth of 8.4% in April compared to 4.9% in March 2022.
  • The eight core sector industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
  • The eight core sector industries in decreasing order of their weightage are: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
  • Index of Eight Core Industries (ICI) fers to the production volume index.
  • It evaluates the combined as well as individual performance of production in selected eight core industries.
  • The current weightage (April 2021), of eight core industries is given below:
  • Petroleum Refinery production (28.04%), Electricity (19.85%), Steel (17.92%), Coal production (10.33%), Crude Oil (8.98%), Natural Gas production (6.88%), Cement production (5.37%), Fertilizer production (2.63%).
  • ICI is compiled and released by the Office of Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
  • ICI provides advance indication on production performance of industries of ‘core’ nature prior to the IIP release by the National Statistical Office, NSO.
  • General economic activities and industrial activities are likely to get impacted by the eight core industries.

  Index of Industrial Production

  • Index of 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 for IIP is 2011-2012.

  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 Gross Domestic Product (GDP) estimates.

  SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT

  osite 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 for IIP is 2011-2012.

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 Gross Domestic Product (GDP) estimates.

SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT