Index of Eight Core Industries JULY, 2020

Index of Eight Core Industries JULY, 2020

Question : Which one of the following statement is correct regarding index of eight core industries ?
(a) The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mineral mining, agriculture and construction.
(b) The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing.
(c) The Eight Core Industries comprise nearly 85.27% of the weight of items included in the Index of Industrial Production (IIP).
(d) The current base year is 2010-2011.
Answer (b)
Related facts

  • The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing Index of Eight Core Industries for the Month of July, 2020.
  • The combined Index of Eight Core Industries stood at 119.9 in July, 2020, which declined by 9.6 (provisional) per cent as compared to the Index of July, 2019.
  • Its cumulative growth during April to July, 2020-21 was -20.5%.
  • The summary of the Index of Eight Core Industries is given below:
  • Coal- Coal production (weight: 10.33per cent) declinedby 5.7 per cent in July, 2020 over July,2019. Its cumulative index declined by 12.9per cent during April toJuly, 2020-21over corresponding period of the previous year.
  • Crude Oil-Crude Oil production (weight: 8.98per cent) declined by 4.9 per cent inJuly, 2020 over July,2019. Its cumulative index declined by 6.1 per cent during April toJuly, 2020-21over the corresponding period of previous year.
  • Natural Gas- The Natural Gas production (weight:6.88per cent) declinedby10.2 per cent in July, 2020 over July,2019. Its cumulative index declined by 14.7 per cent during April to July, 2020-21 over the corresponding period of previous year.
  • Refinery Products- Petroleum Refinery production (weight: 28.04per cent) declined by13.9 per cent in July, 2020 over July,2019. Its cumulative index declinedby 17.1per cent during April to July, 2020-21over the corresponding period of previous year.
  • Fertilizers-Fertilizers production (weight: 2.63 per cent) increased by 6.9 per cent in July,2020 overJuly,2019. Its cumulative index increasedby 3.9 per cent during April toJuly, 2020-21 over the corresponding period of previous year.
  • Steel-Steel production (weight: 17.92per cent)declinedby 16.4 per cent inJuly, 2020 over July,2019. Its cumulative index declined by 42.0per centduring April to July, 2020-21 over the corresponding period of previous year.
  • Cement- Cement production (weight:5.37per cent) declinedby13.5per cent inJuly, 2020overJuly,2019. Its cumulative index declinedby32.2per centduring April to July, 2020-21over the corresponding period of previous year.
  • Electricity- Electricity generation (weight:19.85per cent) declinedby2.3per centin July,2020over July,2019. Its cumulative indexdeclined by 12.4per cent duringApril to July, 2020-21over the corresponding period of previous year.

By — Pankaj Pandey.

Link:
https://pib.gov.in/PressReleasePage.aspx?PRID=1649978