Context:
MoSPI to now release IIP data on 28th of every month from April.
Index of Industrial Production (IIP):
- It measures the industrial production for the period under review, usually a month, as against the reference period.
- Base year: 2011-2012
- Released by: National Statistical Office (NSO) under MoSPI
- IIP Index Components:
- Broad sectors: Mining (14.4%), Manufacturing (77.6%) and Electricity (8%)
- Use-based sectors: Basic Goods, Capital Goods and Intermediate Goods etc.
- 8 Core Industries comprise 40.27% of the weight of items included in the IIP.
- Decreasing order of weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers
Source: ET
Previous year question
In the ‘Index of Eight Core Industries’, which one of the following is given the highest weight?
[UPSC Civil Services Exam – Prelims 2015]
(a) Coal production
(b) Electricity generation
(c) Fertilizer production
(d) Steel production
Answer: (b)
Explanation: Previously, Electricity was having the highest weightage. Currently, Refinery Products has the highest weightage.