About IIP

• Index of Industrial Production (IIP) details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing.
• It is compiled and published every month by the Ministry of Statistics and Programme Implementation.
• The current base year is 2011-2012.
• The Eight Core Industries (Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity) comprise 40.27 per cent of the weight of items included in the IIP.

Why in News?

• According to the latest Index of Industrial Production data, India’s industrial output contracted 16.6% year-on-year in June, shrinking for the fourth month in a row.
• The data indicated some recovery in some sectors that was hit by lockdowns imposed to curb the spread of coronavirus.

Reference:

1. https://www.thehindu.com/business/Economy/june-industrial-output-shrinks-166/article32330177.ece