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Consider the following statements with respect to Index of Industrial production (IIP)
1.Mining has been assigned the least weightage
2.Eight core industries accounts for more than half of the total weightable
Which of the statements given above is/are correct?
1 only
2 only
Both 1 and 2
Neither 1 nor 2
"Mining has been assigned the least weightage." - This statement is not correct. The Index of Industrial Production (IIP) assigns different weightages to different sectors based on their contribution to industrial output. The weightage for mining is not necessarily the least.
"Eight core industries account for more than half of the total weightage." - This statement is not correct. The Index of Industrial Production (IIP) considers a broad set of industries, and the weightage of individual sectors is determined based on their importance in the overall industrial output. The statement about the eight core industries having more than half of the total weightage is not accurate.
Therefore, the correct option is 4, "Neither 1 nor 2."
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