CORE OUTPUT SECTORS

  • April 1, 2021
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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CORE OUTPUT SECTORS

Subject : Economy

Context : Output of eight core sectors contracts 4.6% in February – highest in six months.

Concept :

  • The eight-core sector industries include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity
  • The eight Core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
  • The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
  • These core industries are considered as main or key industries of the economy and serve as the backbone of all other industries.

Index of Industrial Production:

  • It is an index that tracks manufacturing activity in different sectors of an economy.
  • All India 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.
  • It is compiled and published monthly by the Central Statistics Office (CSO).
CORE OUTPUT SECTORS economy