{"id":38843,"date":"2023-12-30T12:11:56","date_gmt":"2023-12-30T06:41:56","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=38843"},"modified":"2025-04-23T21:32:10","modified_gmt":"2025-04-23T16:02:10","slug":"core-sector-growth","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/core-sector-growth\/","title":{"rendered":"Core sectors\u2019 growth skids to 6-month low in November"},"content":{"rendered":"<h2>What\u2019s in today\u2019s article?<\/h2>\n<ul>\n<li>Why in news?<\/li>\n<li>What is Index of Core Industries (ICI)?<\/li>\n<li>What is Index of Industrial Production (IIP)?<\/li>\n<li>News Summary: Core sectors\u2019 growth skids to 6-month low in November<\/li>\n<\/ul>\n<h2>Why in news?<\/h2>\n<ul>\n<li>The output of eight core infrastructure sectors expanded 7.8% in November.\n<ul>\n<li>That is the slowest pace of growth recorded since May, when the eight sectors cumulatively grew 5.2%.<\/li>\n<\/ul>\n<\/li>\n<li>The Index of Core Industries (ICI) was down 3.34% from October levels, and stood at 150.3, its lowest level since March 2023.<\/li>\n<\/ul>\n<h2>Index of Core Industries (ICI)<\/h2>\n<ul>\n<li>About\n<ul>\n<li>ICI is <u>a production volume index<\/u> which is released on monthly basis.<\/li>\n<li>The index measures <u>combined and individual performance of production in selected eight core industries<\/u>.<\/li>\n<li>The base year of the ICI has been revised to 2011-12 from 2004-05.<\/li>\n<\/ul>\n<\/li>\n<li>Institutions involved\n<ul>\n<li>The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade under Ministry of Commerce &amp; Industry is mandated with releasing the Index.<\/li>\n<\/ul>\n<\/li>\n<li>Eight Core Industries of the Index\n<ul>\n<li>The eight core industries are: Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.<\/li>\n<li>Weight carried by individual industries are:\n<ul>\n<li>Coal (weight: 10.33%), Crude Oil (weight: 8.98%), Natural Gas (weight: 6.88%), Petroleum Refinery (weight: 28.04%),<\/li>\n<li>Fertilizers (weight: 2.63%), Steel production (weight: 17.92%), Cement production (weight: 5.37%), Electricity generation (weight: 19.85%)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>Index of Industrial Production (IIP)<\/h2>\n<ul>\n<li>About\n<ul>\n<li>The IIP number measures the industrial production for the period under review, usually a month, as against the reference period.<\/li>\n<li>There is a lag of six weeks in the publication of the IIP index data after the reference month ends.<\/li>\n<li>It is currently calculated using 2011-2012 as the base year.<\/li>\n<\/ul>\n<\/li>\n<li>Institution involved\n<ul>\n<li>National Statistical Organisation (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) releases the IIP data.<\/li>\n<\/ul>\n<\/li>\n<li>IIP Index Components\n<ul>\n<li>IIP is a composite indicator that measures the growth rate of industry groups classified under:\n<ul>\n<li>Broad sectors, namely, Mining (14.4%), Manufacturing (77.6%) and Electricity (8%)<\/li>\n<li>Use-based sectors, namely Basic Goods, Capital Goods and Intermediate Goods etc.<\/li>\n<\/ul>\n<\/li>\n<li>These Eight Core Industries mentioned in above section <u>comprise 40.27 percent of the weight of items<\/u> included in the IIP.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>News Summary: Core sectors\u2019 growth skids to 6-month low in November<\/h2>\n<ul>\n<li>The output of eight key infrastructure industries slowed to a six-month low of 7.8 per cent in November on the back of a high base and festival holidays.<\/li>\n<li>According to data released by the Ministry, growth in the output of refinery products (12.4 per cent) accelerated in September vis-\u00e0-vis the preceding month, while output of crude oil (-0.4 per cent) and cement (-3.6 per cent) contracted.<\/li>\n<li>Output growth in all other sectors, including coal (10.9 per cent), natural gas (7.6 per cent), fertilisers (3.4 per cent) steel (9.1 per cent), and electricity (5.6 per cent) decelerated.<img decoding=\"async\" src=\"https:\/\/vajiramandravi.s3.us-east-1.amazonaws.com\/media\/editor_images\/2023\/12\/30\/14\/10\/46\/658fd78e844b3d05935fa72a_OI.PNG\" alt=\"\" \/><\/li>\n<\/ul>\n<hr \/>\n<h3>Q1)\u00a0What is National Statistical Organization (NSO)?<\/h3>\n<p>The National Statistical Organization (NSO) is a government entity that collects, compiles, and releases official statistics. NSO consists of the Central Statistics Office (CSO) and National Sample Survey Office (NSSO).<\/p>\n<h3>Q2)\u00a0What are Core sectors?\u00a0<\/h3>\n<p>Core sectors are the primary or important industries of an economy. In India, the eight core sectors are: Electricity, Steel, Refinery products, Crude oil, Coal, Cement, Natural gas, Fertilizers. These eight core industries make up 40.27% of the weight of items in the Index of Industrial Production (IIP).<\/p>\n<hr \/>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/www.thehindu.com\/business\/Industry\/core-sectors-growth-skids-to-6-month-low-in-november\/article67687113.ece\" target=\"_blank\" rel=\"nofollow noopener\"><u>Core sectors\u2019 growth skids to 6-month low in November<\/u><\/a><u> | <\/u><a href=\"https:\/\/eaindustry.nic.in\/eight_core_infra\/ICI_Compilation_Methodology.pdf\" target=\"_blank\" rel=\"nofollow noopener\"><u>Office of Economic Adviser<\/u><\/a><u> | <\/u><a href=\"https:\/\/www.livemint.com\/economy\/nov-core-sector-growth-at-7-8-slowest-in-six-months-11703860717058.html\" target=\"_blank\" rel=\"nofollow noopener\"><u>Livemint<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IIP measures the industrial production for the period under review as against the reference period.<\/p>\n","protected":false},"author":5,"featured_media":38844,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":{"0":"post-38843","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/38843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=38843"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/38843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/38844"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=38843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=38843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=38843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}