BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Many times we read in financial newspapers about the performance of the “core sectors” in Economy. Which of the following is NOT included in the core sector of the same?

A	Coal
B	Auto sector
C	Steel
D	Cement

Explanation:

Detailed explanation-1: -ICI measures combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

Detailed explanation-2: -The Eight Core Industries, as stated above, includes Natural Gas, Coal, Refinery Products, Crude Oil, Cement, Electricity, Steel, and Fertilizers. These industries are termed as the core industries owing to their strong impact on the general economic activities and the other industrial activities.

Detailed explanation-3: -The main or the key industries constitute the core sectors of an economy. In India, there are eight sectors that are considered the core sectors. The eight-core sectors of the Indian economy are electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilizers.

Detailed explanation-4: -India’s core sector grew 7.4% year on year in December, against 3.8% in December 2021 and 5.7% in November 2023, as output in seven of the eight components of the infrastructure sectors rose, official data released on Tuesday showed.

There is 1 question to complete.