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PIB Summaries 01 November 2022

CONTENTS

  1. Sardar Vallabhbhai Patel
  2. Index of Eight Core Industries

Sardar Vallabhbhai Patel Birth Anniversary


Focus: GS I- Modern History

Why in News?

The President of India paid homage to Sardar Vallabhbhai Patel on his birth anniversary. 

About Sardar Vallabhbhai Patel

  • Vallabhbhai Jhaverbhai Patel (31 October 1875 – 15 December 1950), popularly known as Sardar Patel, was an Indian politician.
  • He was the first Home Minister and Deputy Prime Minister of Independent India.
  • He played an important role in the integration of many Indian princely states to make an Indian federation.
  • He took charge of the task to forge a united India from over 560 semi-autonomous princely states and British-era colonial provinces.
  • Using frank diplomacy backed with the option (and the use) of military action, Patel’s leadership enabled the accession of almost every princely state.
  • Hence, he is recognized as the real unifier of India.
  • He is also remembered as the ‘Patron saint of India’s civil servants’ as he established the modern all-India services system. He is also hailed as the Iron Man of India.
  • Patel was in charge of the Provincial Constitution Committee and the Advisory Committee on Fundamental Rights, Minorities and Tribal and Excluded Areas, in the Constituent Assembly of India.
  • Since 2014, every year on 31 October ‘Rashtriya Ekta Diwas’ or the National Unity Day is observed to pay tribute to Sardar Vallabhbhai Patel – an Indian politician who played a pivotal role in India’s freedom struggle and then during the integration of the country.
  • He was awarded the Bharat Ratna posthumously in 1991.
Statue of Unity
  • The Statue of Unity which is built in honour of Sardar Vallabhbhai Patel is dedicated to the nation.
  • The Statue of Unity is the tallest statue in the world at 182 metres.
  • It is located on the Sadhu Bet island on the Narmada river, which flows between the Satpura and the Vindhya mountain ranges.

Index of Eight Core Industries


Focus: GS III- Indian Economy

Why in News?

The combined Index of Eight Core Industries increased by 7.9 per cent (provisional) in September 2022 as compared to the Index of September 2021.

About Index of Eight Core Industries:

  • The Eight Core Industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

Released by: The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade

Base year: 2011-12

Below image attached Eight Core Industries based on their weightage.

Index of Industrial Production (IIP):

  • The Index of Industrial Production (IIP) is an index that shows the growth rates in different industry groups of the economy in a fixed period of time.
  • It is compiled and published monthly by the Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation (MOSPI).
  • The Central Statistics Office (CSO) revised the base year of the all-India Index of Industrial Production (IIP) from 2004-05 to 2011-12 on 12 May 2017.
  • IIP is a composite indicator that measures the growth rate of industry groups classified under broad sectors, namely, Mining, Manufacturing, and Electricity.
  • Use-based sectors, namely Basic Goods, Capital Goods, and Intermediate Goods.
Significance of IIP:
  • IIP is the only measure on the physical volume of production.
  • It is used by government agencies including the Ministry of Finance, the Reserve Bank of India, etc., for policy-making purposes.
  • IIP remains extremely relevant for the calculation of the quarterly and advance GDP estimates.

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