12th November 2019- The Hindu Prelims Sure Shot
Index of Industrial Production
What’s in News?
- IIP shrinks by 4.3% to the lowest in 8 years. It is the worst fall in 90 months adding to a series of weak indicators released recently, suggesting a deep-rooted economic slowdown.
About Index of Industrial Production (IIP)
- The Index of Industrial Production (IIP) is an index that indicates the performance of various industrial sectors of the Indian economy.
- IIP is compiled and published by Central Statistics Office(CSO)
- It is published every month
- It covers 865(Older series 682) items comprising :
- Manufacturing (809 items, Older series 620 items),
- Mining (55 items, Older Series 61 items) &
- Electricity (1 item).
- The weights of the three sectors are :
- Manufacturing – 77.63%,
- Mining – 14.37%,
- Electricity – 7.99%
- Base year for IIP is 2011-2012 (Earlier 2004-05) i.e. it is calculated on the basis of their share of GDP at factor cost during 2011-12.
- The eight Core Industries comprise nearly 40.27 % of the weight of items included in IIP. They are :
- Coal (10.33%)
- Crude oil (8.98%)
- Natural gas (6.88%)
- Refinery products (28.04%)
- Fertilisers (2.63%)
- Steel (17.92%)
- Cement (5.37%)
- Electricity (19.85%)
- In IIP, the decreasing order of core industries among them is as:
REFINERY PRODUCTS>ELECTRICITY> STEEL> COAL> CRUDE OIL> NATURAL GAS>CEMENT> FERTILIZERS
What’s in News?
- Suranga Bawadi has entered the World Monument Watch list.
- A New York-based NGO has included it in the World Monument Watch list for 2020 along with 24 other monuments from across the world.
- World Monuments Fund works in collaboration with the local stakeholders, including the district administration, the Archaeological Survey of India and local explorers of ancient monuments, in highlighting the need for restoration of ancient monuments.
- The monument has been selected under the “Ancient Water System of the Deccan Plateau”.
- Suranga Bawadi is an integral part of the ancient Karez system of supplying water through subterranean tunnels built during the Adil Shahi era in Karnataka.
- The ancient water system ‘Karez’ is believed to one of the best systems in the world.
- Though the Karez system was built in the 16th century by Ali Adil Shah–I, his successor, Ibrahim Adil Shah–II, brought in several changes by adding more structures to strengthen it.
- According to historians, the Adil Shahis built the magnificent underground system to supply water to the city, which had a population of nearly 12 lakh then.