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?

• The country’s factory output (IIP) continued to pick up pace in February this year. According to the data released by the Ministry of Statistics and Programme Implementation, IIP rose 1.7 percent in February 2022 compared to a revised estimate of 1.5 percent in January this year.

Reference:

1. https://newsonair.gov.in/News?title=IIP-rises-1.7-%25-in-February-compared-to-1.5-%25-in-January-2022%3a-Government-data&id=439059