About IIP

• The Index of Industrial Production (IIP) details the growth of various sectors in an economy such as mineral mining, electricity and manufacturing.
• It is compiled and published every month by the National Statistical Office (NSO) under 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 National Statistical Office, India’s industrial output (measured by IIP) grew 19.6% in May, the fastest pace of growth in 12 months, with overall production rising 2.3% month-on-month from April, and surpassing the pre-pandemic level by 1.7%.

Reference:

1. https://www.thehindu.com/business/industrial-output-jumped-196-in-may/article65632207.ece