About IIP

• The Index of Industrial Production (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.
• Mining, manufacturing, and electricity are the three broad sectors in which IIP constituents fall.
• 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 comprise 40.27 per cent of the weight of items included in the IIP.

Why in News?

• India’s industrial output growth dropped to a four-month low of 3.2% in December, with manufacturing and mining sectors rising just 3% and 2.6%, respectively.

https://www.thehindu.com/business/Economy/indias-industrial-output-growth-drops-to-four-month-low-of-32-in-december/article69211257.ece