Why in News?
The Office of Economic Adviser (OEA), DPIIT will release the revised Index of Core Industries (ICI) with base year 2022–23 on 20 July 2026, replacing the 2011–12 series.
Key Highlights
- New Base Year: 2022–23 (replaces 2011–12).
- Compiled by: Office of Economic Adviser (OEA), DPIIT.
- Frequency: Monthly.
- Major Change: Iron Ore added as a new core industry, increasing the total from 8 to 9.
- Steel Index: Compiled using gross production data instead of net production.
- Coal Sector: Only Raw Coal retained; Coal Middlings and Washed Coal excluded to avoid double counting.
- Weights: Derived from the Index of Industrial Production (IIP) 2022–23 released by MoSPI.
Nine Core Industries (2022–23 Series)
- Coal, Crude Oil, Natural Gas, Refinery Products, Fertilisers, Steel, Cement, Electricity, and Iron Ore (Newly Added)
- Index of Core Industries (ICI):
- Measures the performance of core industrial sectors.
- Represents infrastructure and industrial activity.
- Forms a key indicator of industrial growth and serves as an input for the Index of Industrial Production (IIP).
[2015] In the ‘Index of Eight Core Industries’, which one of the following is given the highest weight?
[A] Coal production
[B] Electricity generation
[C] Fertilizer production
[D] Steel production