What is IIP data? Index of Industrial Production data or IIP as it is commonly called 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.
What is IIP data in India?
The Index of Industrial Production (IIP) is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period.
How many items are in an IIP?
IIP Index Components: Electricity, crude oil, coal, cement, steel, refinery products, natural gas, and fertilizers are the eight core industries that comprise about 40 per cent of the weight of items included in the IIP.
What does IIP measure?
The IIP is a composite indicator that measures changes in the volume of production of a basket of industrial products over a period of time, with respect to a chosen base period. It is compiled and published monthly by the CSO with a time lag of six weeks from the reference month.
What is the full form of MoSPI?
The Ministry of Statistics and Programme Implementation (MoSPI) is a ministry of Government of India concerned with coverage and quality aspects of statistics released.
Which is the base year for the IIP?
The Index of Industrial Production (IIP) is an indicator that measures the changes in the volume of production of industrial products during a given period. It calculates the data of eight core sectors. IIP’s current base year is 2011-12 since May 2017.
What is the index of industrial production ( IIP )?
The Index of Industrial Production (IIP) is an indicator that measures the changes in the volume of production of industrial products during a given period. It calculates the data of eight core sectors.
How does the IIP work and why does it matter?
More formally, it chooses a basket of industrial products — ranging from the manufacturing sector to mining to energy, creates an index by giving different weight to each sector and then tracks the production every month.
Where can I find IIP data in India?
The IIP index data, once released, is also available on the PIB website. Who uses IIP data? The factory production data (IIP) is used by various government agencies such as the Ministry of Finance, the Reserve Bank of India ( RBI ), private firms and analysts, among others for analytical purposes.
