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Question
Q. Consider the following statements in reference to the Index of Industrial Production(IIP).
Which of the statements given above is/are correct?
Q. Consider the following statements in reference to the Index of Industrial Production(IIP).
Which of the statements given above is/are correct?
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Solution
The correct option is D Neither 1 nor 2
Explanation:
- Statement 1 is incorrect: The Index of Industrial Production (IIP) is an index that indicates the performance of various industrial sectors of the Indian economy. The IIP is estimated and published on a monthly basis. There is a lag of six weeks in the publication of the IIP index data after the reference month ends. IIP index is currently calculated using 2011-2012 as the base year.
- Statement 2 is incorrect: The Eight Core Sectors/Industries included under IIP are Electricity, Steel, Refinery products, Crude oil, Coal, Cement, Natural gas, Fertilisers. Among them, Refinery products have the largest share with close to 28% weightage while the Electricity sector has a weightage of 19.85%
Explanation:
- Statement 1 is incorrect: The Index of Industrial Production (IIP) is an index that indicates the performance of various industrial sectors of the Indian economy. The IIP is estimated and published on a monthly basis. There is a lag of six weeks in the publication of the IIP index data after the reference month ends. IIP index is currently calculated using 2011-2012 as the base year.
- Statement 2 is incorrect: The Eight Core Sectors/Industries included under IIP are Electricity, Steel, Refinery products, Crude oil, Coal, Cement, Natural gas, Fertilisers. Among them, Refinery products have the largest share with close to 28% weightage while the Electricity sector has a weightage of 19.85%
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