Q. What is the current base year of Index of Industrial Production?
Solution:
- The CSO had revised the base year of the IIP from 2004-05 to 2011-12 in May 2017 to capture structural changes in economy.
- IIP is composite indicator that measures short-term changes in volume of production of basket of industrial products during given period with respect to chosen base period.
- It is compiled and published monthly by Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation.
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