About Index of Industrial Production:
- It is a composite indicator designed to measure the changes in the volume of the production of item basket over a period of time with respect to its base year.
- It provides insight into the growth or contraction of industrial activity over a given period, making it a crucial economic performance indicator.
- It is compiled and released by the National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI).
- It is released every month.
- Base Year: It is 2022-23.
- The first IIP was prepared with base year 1937 and thereafter the base year has been revised successively to 1946, 1951, 1956, 1960, 1970, 1980-81, 1993-94, 2004-05 and 2011-12.
- The base year is a chosen year taken as a reference point (index = 100) to compare production over time.
