Why in the News?
The Ministry of Statistics and Programme Implementation (MoSPI) released the report of the Technical Advisory Committee (TAC) on revising the base year of the All-India Index of Industrial Production (IIP) from 2011-12 to 2022-23.
About IIP
- The Index of Industrial Production (IIP) measures: Growth in industrial activity in India.
- Published By: National Statistical Office (NSO) Under MoSPI
Technical Advisory Committee (TAC-IIP)
- Chairman: Mridul K. Saggar
- Constituted: September 2024
- Purpose
- Guide the revision of IIP base year.
- Improve methodology, coverage, and accuracy.
Major Changes in New IIP Series (2022-23)
- Expanded Coverage: New sectors included:
- Minor minerals
- Rare earth minerals
- Gas supply
- Water supply
- Sewerage and waste management
Revised Item Basket
- Total products: 1,042
- Mapped into: 463 item groups
- Based on: National Industrial Classification (NIC)-2025
National Industrial Classification (NIC)-2025
- National Industrial Classification (NIC) is India’s official system for classifying economic and industrial activities.
- It helps in:
- Collection of statistical data
- Industrial surveys
- National accounts compilation
- Economic analysis and policy formulation
Released by the Ministry of Statistics and Programme Implementation (MoSPI) through the National Statistical Office (NSO).
[2012] In India the overall Index of Industrial Production, the Indices of Eighth Core Industries have combined weight of 37.90%. Which of the following are among those Eight Core Industries?
1. Cement
2. Fertilizers
3. Natural Gas
4. Refinery products
5. Textiles
Select the correct answer using the codes given below:
[A] 1 and 5 only
[B] 2, 3 and 4 only
[C] 1, 2, 3 and 4 only
[D] 1, 2, 3, 4 and 5
