INDEX
OF CORE INDUSTRIES - ECONOMY
News:
Hot, dry August spurs
core sector output growth to 14-month high
What's
in the news?
●
Output at India’s eight core
infrastructure sectors climbed by a combined 12.1% in August, the fastest pace
in 14 months, with five of them reporting double-digit growth, spurring hopes
of a healthy uptick in industrial production last month.
Core
Sector:
●
The Office of Economic Adviser, Department
for Promotion of Industry and Internal Trade (Ministry of Commerce) releases Index of Eight Core Industries
(ICI).
●
ICI measures combined and individual
performance of production in selected eight
core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products,
Fertilizers, Steel, Cement and Electricity.
●
The Eight Core Industries comprise 40.27% of the weight of items
included in the Index of Industrial Production (IIP).
●
Eight Core Sectors Industries of the
Indian economy are as follows.
○
Refinery products - 28.04
○
Electricity - 19.85
○
Steel - 17.92
○
Coal - 10.33
○
Crude oil - 8.98
○
Natural gas - 6.88
○
Cement - 5.37
○
Fertilizers - 2.63
Significance
of Core Sector:
●
These industries have a major impact on
general economic activities and also industrial activities. They significantly
impact most other industries as well. The core sector represents the capital base of the economy.