Economy

• According to recent report of Index of Industrial Production, Mining, Electricity, Primary Goods and Consumer Goods sector all contracting.
• Manufacturing growth slowed sharply.

Index of Industrial Production (IIP)

• The Central Statistical Organisation (CSO) is responsible for the compilation and publication of the Index of Industrial Production (IIP) since 1950.
• The IIP is a quantum index, the production of items being expressed in physical terms. However, the unit of reporting in respect of certain items like machinery, machine tools, ship building, etc. is in value terms.
• The scope of the IIP as recommended by the United Nations Statistical Office (UNSO) includes mining, manufacturing, construction, electricity, gas and water supply. But due to constraints of data availability, the IIP compiled in India has excluded construction, gas and water supply sectors.
• Base Year for IIP – 1993-94