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Core Sector
Why is it in the news?
- As per the official data released, growth of eight core industries declined to 2.1 per cent in July.
- The decline is primarily on account of contraction in coal, crude oil and natural gas production.
Highlights of the Report
- The eight core sector industries- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity had expanded by 7.3 per cent in July last.
- These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
- Output of coal, crude oil, natural gas and refinery products recorded negative growth during the month under review.
- The combined index of eight core industries stood at 129.8 in June 2018.
- The electricity has the maximum weight of 10.32% followed by Steel (6.68%), Petroleum Refinery (5.94%) with Fertilizer production (1.25%) having lowest weight.
Source
The Hindu.