Call Us Now

+91 9606900005 / 04

For Enquiry

legacyiasacademy@gmail.com

QUICK ESTIMATES OF INDEX OF INDUSTRIAL PRODUCTION

Why in news?

The Quick Estimates of Index of Industrial Production (IIP) is released on 12th of every month (or previous working day) with a six weeks lag and compiled with data received from source agencies.

For the month of March 2020, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at ~ 120.

About 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.
  • 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.
  • Base Year for IIP is 2011-2012.
  • The eight core industries of India represent about 40% of the weight of items that are included in the IIP.

The Eight Core Sectors/Industries are:

  1. Electricity
  2. Steel
  3. Refinery products
  4. Crude oil
  5. Coal
  6. Cement
  7. Natural gas
  8. Fertilisers

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.
Download PDF
September 2022
MTWTFSS
 1234
567891011
12131415161718
19202122232425
2627282930 
Categories