Question
Download Solution PDFWhich of the following agencies release the index of industrial production to measure industrial performance in India?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is The Central Statistics Office (CSO).
Key Points
- The Index of Industrial Production is an index that tracks manufacturing activity in different sectors of an economy.
- The IIP number measures the industrial production for the period under review, usually a month, as against the reference period.
- The IIP data is compiled and published by Central Statistical Organisation that operates under the Ministry of Statistics and Programme Implementation (MoSPI).
- Mining, manufacturing, and electricity are the three broad sectors in which IIP constituents fall.
- The eight core industries that comprise about 40 per cent of the weight of items included in the Index of Industrial Production-
- Electricity
- crude oil
- coal
- cement
- steel
- refinery products
- natural gas
- fertilisers
- The current base year of the index is 2011-12=100.
- India's index of industrial production grew by 1% Year on Year as against a de-growth of 2.1% Year on Year in November.
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