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India's Core Sectors Growth
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.
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Fact Box: Government Initiatives for Growth of the Industrial Sector in India
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