Consider the following statements about the 8 core industries of index of industrial production (IIP)
1. Their combined weight in IIP exceeds $50 %$
2. Refinery products have the maximum weight in IIP out of the 8 core industries.
Which of the above statements is/are correct?

1 only

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2 only

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1 and 2

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Neither 1 nor 2

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Solution

The correct option is B 2 only
Index of Industrial Production (IIP) is an indicator to measure industrial growth in India. It is prepared by Office of the Economic Adviser, Department of Industrial Policy and Promotion. The eight core industries of IIP are coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. They have a combined weight of 40.3% in IIP. Of these, coal has the highest weight.

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