India's Core Sectors Growth

Published: 5th Apr, 2024

Context

India's eight core sectors posted a 6.7 percent growth in February against 4.1% last month. It was 7.4 percent in February 2023.

What are Core Sectors?

Eight Core Sectors: Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizer, Steel, Cement, and Electricity.
These comprise 27% of the weightof items included in the Index of Industrial Production (IIP).
The eight core sector industries in decreasing order of their weightage:
Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
Index of Industrial Production: IIP is an indicator that measures the changes in the volume of productionof industrial products during a given period.
- It is compiled and published monthly by the Central Statistical Organization (CSO),Ministry of Statistics, and Programme Implementation.
- The base year for IIP is 2011-2012.

Production-Linked Incentive (PLI) - To scale up domestic manufacturing capability.
PM Gati Shakti- National Master Plan - Multimodal connectivity infrastructure project.
Bharatmala Project - To Improve connectivity in North East India
Start-up India - To catalyze Startup culture in India
Make in India 2.0 - To transform India into a global design and manufacturing hub.
Atmanirbhar Bharat Campaign - To cut down import dependence
Disinvestment Plans - To support India’s economic recovery
Special Economic Zones- To create additional economic activity and boost the export of goods and services.
MSME Innovative Scheme- To promote the complete value chain from developing ideas into innovation through incubation and design interventions

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