Q. Consider the following statements regarding core industries:
1.The Eight Core Industries comprise more than 50 percent of the weight of items included in the Index of Industrial Production (IIP).
2.Electricity generation has the highest weight of the eight core industries.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: D
Notes:

Explanation: The ICI measures the combined and individual performance of production of eight core industries viz. Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel.

  • The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
  • Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 4.2 per cent in October 2023 over October 2022. Its cumulative index increased by 4.0 percent during April to October, 2023-24 over the previous year’s corresponding period.
  • Electricity generation (weight: 19.85 per cent) increased by 20.3 per cent in October 2023 over October 2022. Its cumulative index increased by 7.9 percent from April to October 2023-24 over the previous year’s corresponding period.

Source: https://pib.gov.in/PressReleasePage.aspx?PRID=1981162

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