Question

Which of the following is among the industries used for calculating the Index of Eight Core Industries in India?
1. Aluminium
2. Copper
3. Textile
4. Refinery products

Answer 1

Correct Answer - Option 4 : Refinery products

The correct answer is Refinery products.

• GDP is the measure of the overall activity (production) in the Indian Economy.

• Index of Industrial Production (IIP) is an index that helps us to keep track of the growth of various sectors such as mining, electricity, and manufacturing.
• For calculating the Index of Eight Core Industries in India, the base year is 2011-2012.
• The Eight Core Industries consists of nearly 40.27% of the weight of items included in the Index of Industrial Production (IIP).
• These are Electricity, steel, refinery products, crude oil, coal, cement, natural gas, and fertilizers.