Consider the following about ldquo Core Industries rdquo in India 1 The Eight Core Industries compri...........

Economic Affairs Industrial sectors

Consider the following about “Core Industries” in India.

1. The Eight Core Industries comprise majority of the weight in the items included in the Index of Industrial Production(IIP).

2. Among all core industries, iron has the highest weightage.

3. The IIP of core industries has consistently fallen since the 2008 recession.

Select the correct answer using the codes below.

1 and 2 only

2 only

1 and 3 only

None of the above

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Explanation:

Statement 1: They comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP). So, 1 is wrong.
Statement 2: Refinery Products have the highest weightage.
Statement 3: The combined Index of Eight Core Industries stands at 188.0 in March, 2016, which was 6.4 % higher compared to the index of March, 2015. Its cumulative growth during April to March, 2015-16 was 2.7 %. So, clearly 3 is wrong. moreover no index moves consistently in the economy unless eceptional circumstances.