Balanced
Core upgrade: On the Index of Core Industries
The Index of Core Industries (ICI) received a welcome update, incorporating a new base year, iron ore sector, and revised weights, better reflecting economic shifts. June 2026 data showed 5% growth, suggesting recovery, though partly due to a statistical base effect. The new series highlights persistent contractions in crude oil and natural gas sectors. The author advocates for broader statistical reorganisation, suggesting WPI and ICI move to the Ministry of Statistics. This update is positive, but challenges remain.
The Hindu · The Hindu · Jul 23, 2026 at 8:53 PM