Index of Industrial Production
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http://mospi.nic.in/Mospi_New/upload/iip/IIP_timeseries_2004_05.htm | http://mospi.nic.in/Mospi_New/upload/iip/IIP_timeseries_2004_05.htm | ||
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| + | '''ASI Vs IIP''' | ||
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| + | The Industrial Output data is captured and monitored, primarily, through two statistical activities (i) Annual Survey of Industries (ASI) on an annual basis and (ii) Index of Industrial Production (IIP) on a monthly basis. The ASI is conducted under the Collection of Statistics Act, since 1959, to obtain comprehensive and detailed statistics of industrial sector with the objective of estimating the contribution of registered manufacturing industries as a whole to the national income. The IIP is compiled on the basis of data sourced from 16 ministries/ administrative departments. Data for IIP are collected by various source agencies under different Acts/statutes. Data received then undergo scrutiny and validation before finalisation. The output figures for compilation of IIP are authenticated by respective line Ministries/ departments and the ASI data is based on actual book of accounts and other documents maintained by registered factories. | ||
==References== | ==References== | ||
Revision as of 18:53, 16 December 2015
Index of Industrial Production (IIP) measures the quantum of changes in the industrial production in an economy and captures the general level of industrial activity in the country. It is a composite indicator expressed in terms of an index number which measures the short term changes in the volume of production of a basket of industrial products during a given period with respect to the base period. IIP is a short term indicator of industrial growth till the results from Annual Survey of Industries and National Accounts Statistics are available.
The base year is always given a value of 100. The current base year for the IIP series in India is 2004-05. So, if the current IIP reads as 116 it means that there has been 16% growth compared to the base year.
Index of Industrial Production is compiled and published every month by Central Statistics Office (CSO) of the Ministry of Statistics and Programme Implementation with a time lag of six weeks from the reference month. i.e., at the time of release of IIP data, quick estimates for the relevant month along with revised and final indices of previous two months respectively, (on the basis of updated production data) are released. For eg the quick estimate of IIP of August 2012 along with revised indices of July 2012 and final indices of May 2012 has been released on 12th October 2012.
The data for compilation of IIP is received from 16 different source agencies viz. Department of Industrial Policy & Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum & Natural Gas; Office of Textile Commissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.
IIP covers 682 items comprising Mining (61 items), Manufacturing (620 items) & Electricity (1 item). The weights of the three sectors are 14.16%, 75.53% and 10.32% respectively and are on the basis of their share of GDP at factor cost during 2004-05. The general scope of IIP, as recommended by United Nations Statistics Division includes Mining & Quarrying, Manufacturing, Electricity, Gas steam, Air conditioning supply, Water supply, Sewerage, Waste management and Remediation activities. But in India, due to constraints of data availability and other resources, the index is compiled using figures of mining, manufacturing and electricity sectors only.
The all India IIP was first complied by Office of Economic Adviser, Ministry of Commerce & Industry with the base year 1937. With the establishment of CSO in 1951, the compilation of index was shifted to this office. The base year of the index has been subsequently revised to 1946, 1951, 1956, 1960, 1970, 1980-81 and 1993-94. The new index with base year 2004-05 was released on 10th June 2011(Index figures of April 2011).
The details of index figures of the current month can be viewed at the following link
http://mospi.nic.in/Mospi_New/upload/t2_new.pdf
The figures pertaining to previous months can be accessed at
http://mospi.nic.in/Mospi_New/site/PressRelease.aspx?status=1&menu_id=39
Further details pertaining to list of items, use based classification of items, monthly time series-2 digit level and monthly time series use-based indices and growth can be viewed at
http://mospi.nic.in/Mospi_New/upload/iip/IIP_timeseries_2004_05.htm
ASI Vs IIP
The Industrial Output data is captured and monitored, primarily, through two statistical activities (i) Annual Survey of Industries (ASI) on an annual basis and (ii) Index of Industrial Production (IIP) on a monthly basis. The ASI is conducted under the Collection of Statistics Act, since 1959, to obtain comprehensive and detailed statistics of industrial sector with the objective of estimating the contribution of registered manufacturing industries as a whole to the national income. The IIP is compiled on the basis of data sourced from 16 ministries/ administrative departments. Data for IIP are collected by various source agencies under different Acts/statutes. Data received then undergo scrutiny and validation before finalisation. The output figures for compilation of IIP are authenticated by respective line Ministries/ departments and the ASI data is based on actual book of accounts and other documents maintained by registered factories.
References
- Index of Industrial Production, Revision of Base Year to 2004-05, An Overview
- Central Statistics office(www.mospi.gov.in).
