How is the Index of Eight Core Industries (ICI) prepared, and who is responsible for its compilation?

Prepared annually by the Ministry of Commerce & Industry.

Prepared quarterly by the Department for Promotion of Industry and Internal Trade (DPIIT).

Prepared monthly by the World Bank.

Prepared monthly by the Office of the Economic Adviser (OEA), DPIIT, and the Ministry of Commerce & Industry.

Arrange the Eight Core Industries in decreasing order of their weightage.

Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers

Electricity> Steel> Fertilizers> Cement> Crude Oil> Coal> Refinery Products> Natural Gas

Coal> Crude Oil> Refinery Products> Steel> Electricity> Fertilizers> Cement> Natural Gas

Natural Gas> Cement> Fertilizers> Steel> Electricity> Refinery Products> Coal> Crude Oil

Why are these sectors termed 'Core Sectors'?

They focus on secondary economic activities.

They have a significant impact on the economy and other industries.

They contribute only to the service sector.

They are unrelated to other industries.

What does the growth rate in the Core Sectors indicate?

The total value addition in the economy.

The change in the value of GDP.

The percentage increase in production compared to the previous year.

The annual profit margins of core industries.

What is the primary conclusion drawn from the growth rates mentioned in November and December 2021?

Core Sectors experienced a decline in production.

There was no significant change in the production of Core Sectors.

Core Sectors showed positive growth in production.

The growth rates are unrelated to industrial performance.

Differentiate between the nature of the Index of Eight Core Industries (ICI) and GDP.

ICI is a volume number, and GDP is a value addition.

ICI measures value addition, and GDP measures volume.

Both ICI and GDP measure value addition.

Both ICI and GDP measure volume.

What is the significance of Core Sectors in the Indian economy?

They constitute 20% of the weight of items in IIP.

They are considered the backbone of all other industries.

They focus on service-oriented businesses.

They contribute only to the manufacturing GDP.

Explain why Core Sectors are considered the backbone of other industries.

Due to their large size in terms of GDP contribution.

They support the growth and development of various industries.

They focus on tertiary economic activities.

Because they operate independently of other sectors.

Industry -2 Free MCQ Practice Test with Solutions

	SSC CGL Tier 2 - Study Material, Online Tests, Previous Year 1365 videos\|1312 docs\|1010 tests

	SSC CGL Tier 2 - Study Material, Online Tests, Previous Year 1365 videos\|1312 docs\|1010 tests

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