Index of Eight Core Industries

• The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
• The combined Index of Eight Core Industries stood at 132.1 in December, 2018, which was 2.6per centhigheras compared to the index of December, 2017.
• Its cumulative growth during April to December, 2018-19was 4.8per cent.
• The Eight Core Industries include:
  1. Coal production-weight: 10.33per cent)
  2. Crude Oil production- weight: 8.98per cent
  3. The Natural Gas production-weight: 6.88per cent
  4. Refinery Products-weight: 28.04per cent
  5. Fertilizers production-weight: 2.63 per cent
  6. Steel production-weight: 17.92per cent
  7. Cement production-weight: 5.37per cent
  8. Electricity generation-weight: 19.85per cent

About Index of Industrial Production (IIP)

• The Central Statistical Organisation (CSO) is responsible for the compilation and publication of the Index of Industrial Production (IIP) since 1950.
• The IIP is compiled as a simple weighted arithmetic mean of production relatives by using Laspeyre’s formula.
• The IIP is a quantum index, the production of items being expressed in physical terms. However, the unit of reporting in respect of certain items like machinery, machine tools, ship building, etc. is in value terms.