Eight Core Industries

IN NEWS:

• The output of eight core infrastructure industries shrank by 23.4% in May due to the coronavirus-induced lockdown, according to the official data.

ABOUT EIGHT CORE INDUSTRIES:

• The Eight Core Industries comprise nearly 40.27% of the weight of items included in the Index of Industrial Production (IIP).
• These are Electricity , steel, refinery products, crude oil, coal, cement, natural gas and fertilisers.
• Industrial Production (IIP) is a key gauge of factory activity in the country and the core sectors best indicate the status of an economy as they are vital products which are required for production processes throughout the country.
• Index of Eight Core Industries is released by Ministry of Commerce and Industry.

PRELIMS QUESTION:

Q. ‘Index of Eight core industries’ is released by:

1. Ministry of Statistics and Program implementation
2. Ministry of Finance
3. Ministry of Commerce and Industry
4. NITI Aayog

Answer to Prelims question