Index of Industrial Production
- The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mining, electricity and manufacturing.
- Base year is 2004-05
- The all India 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.
- It is compiled and published monthly by the Central Statistical Organisation (CSO) six weeks after the reference month ends.
- IIP is compiled using data received from 15 source agencies viz. (i) Department of Industrial Policy & Promotion (DIPP); (ii) Indian Bureau of Mines; (iii) Central Electricity Authority; (iv) Joint Plant Committee, Ministry of Steel; (v) Ministry of Petroleum & Natural Gas; (vi) Office of Textile Commissioner; (vii) Department of Chemicals & Petrochemicals; (viii) Directorate of Sugar & Vegetable Oils; (ix) Department of Fertilizers; (x) Tea Board; (xi) Office of Jute Commissioner; (xii) Office of Coal Controller; (xiii) Railway Board; (xiv) Office of Salt Commissioner; and (xv) Coffee Board.
• The Index of Industrial Production (IIP) is an abstract number or ratio which measures the growth of
various sectors in the economy.
• In India, IIP is a representative figure which measures the general level of Industrial activity in the country.
• Being an abstract number, it does not show volume of activity and only shows the magnitude which
represents the status of production in the industrial sector for a given period of time as compared to a
reference period of time.
• The 8 Core Industries viz. Fertilizers, Electricity, Refinery Products, Natural Gas, Steel, Cement, Crude
Oil and coal [remember this by mnemonic FERNS-C3] is nearly 38% in the IIP.
This is shown in
decreasing order as follows: Electricity 10.32; Steel (Alloy + Non-alloy) 6.68; Refinery Products 5.94;
Crude Oil 5.22; Coal 4.38; Cement 2.41; Natural Gas 1.71; Fertilizers 1.25.
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