Consider the following statements regarding the revised series of the Index of Core Industries (ICI) with Base Year 2022–23: 1. Iron Ore has been included as the ninth core industry in the revised ICI series. 2. The combined weight of core industries in the Index of Industrial Production (IIP) has increased under the new series. Which of the statements given above is/are correct? |ForumIAS

Q. Consider the following statements regarding the revised series of the Index of Core Industries (ICI) with Base Year 2022–23:
1.Iron Ore has been included as the ninth core industry in the revised ICI series.
2.The combined weight of core industries in the Index of Industrial Production (IIP) has increased under the new series.
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: A

Notes:

Explanation:

Statement 1 is correct as Iron Ore has been added as the ninth core industry in the revised ICI series.
Statement 2 is incorrect because the combined weight of core industries in IIP has decreased from 40.27% to 32.88% under the new series.

Source- PIB