Economy & Business MCQs - 2026-09-13

The Index of Industrial Production (IIP) is compiled and published monthly by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation.

The eight core industries are Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement, and Electricity. These industries have a combined weight of 40.27% in the IIP. Textiles is not one of the eight core industries.

The Index of Industrial Production (IIP) is an index that details the growth of various sectors in the Indian economy, specifically the industrial sector. It measures the growth rate in three broad sectors: Manufacturing, Mining, and Electricity.

The Repo Rate is the rate at which the Reserve Bank of India lends money to commercial banks against government securities. It is a key tool used by the RBI to control inflation and manage liquidity in the economy.

Maintaining a status quo on policy rates typically signals that the central bank perceives the current economic conditions (inflation, growth) to be stable or that it is adopting a cautious 'wait and watch' approach before making further adjustments.

The Monetary Policy Committee (MPC) is a statutory body of the Reserve Bank of India, entrusted with the task of fixing the benchmark policy interest rate (repo rate) to achieve the inflation target.