Index of Industrial Production (IIP)
Context:
Recently, the Ministry of Statistics has revised the release date of the Index of Industrial Production (IIP) from April 2025.
- This initiative aims to improve better policy responses and enhances data timeliness and reliability.
Key highlights:
- IIP data will now be released on the 28th of every month.
- The release time is reduced from 42 days to 28 days after the reference month.
- Only two estimates (Quick and Final) will be published, replacing the earlier three.
- IIP is a composite indicator reflecting short-term industrial performance.
- It uses 2011-12 as the base year.
- Compiled and published by the Central Statistics Office (CSO).
- It covers the mining, manufacturing, and electricity sectors.
Prelims Practice Question:
Q. The Index of Industrial Production (IIP) in India is:
A) Released quarterly by the Ministry of Commerce and Industry
B) Based on the base year 2004-05
C) A measure of inflation in industrial goods
D) A monthly composite indicator compiled by the CSO covering mining, manufacturing, and electricity
Answer: D
