INDEX of Eight CORE INDUSTRIES
• The combined Index of Eight Core Industries stood at 143.2 in April 2022, which is an increased of 8.4 per cent (provisional) as compared to the Index of April 2021.
What are the Core Industries?
The Eight core sectors of the Indian Economy are:
• Refinery products.
• Crude oil.
• Natural gas.
• These sectors which have a huge impact on the economy plays a huge role.
• These eight core industries which together make upto 40.27% of the Index of Industrial Production (IIP).
• The Index of the Eight Core Industries is released by the Office of the Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade (DPIIT), and Ministry of Commerce & Industry every month.
What is the current status?
• The combined index has been increased by 8.4% when compared to the index of April 2021.
About The IIP:
• The Index of Industrial Production (IIP) is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period.
• In India, the first official attempt to compute the Index of Industrial Production (IIP) was made much earlier than the first recommendation on the subject came at the international level.
• With the inception of the Central Statistical Organization (now known as National Statistics Office (NSO)) in 1951, the responsibility for compilation and publication of IIP was vested with it.
Source: THE HINDU.
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