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IIP and Index of Core Industries move to the 2022-23 base year
बातमीत का?
Iron ore joins the core list: the IIP base-year change every GS-III answer needs
IIP and the core-industries index are rebased to 2022-23; iron ore joins the core list.
Why it matters: asked in UPSC 2012; factual, Prelims-type
What you need to know
2 मिनिटे
The Index of Industrial Production and the Index of Core Industries now use 2022-23 as the base year.
The IIP is compiled by the National Statistical Office under the Ministry of Statistics and Programme Implementation.
The revised core index covers nine industries, with iron ore newly added, and the revision followed the recommendations of the Praveen Mahto Committee.
स्रोत: Topper IAS editorial (PIB / The Hindu / Indian Express)
महत्त्वाची तथ्ये
Remember these
- IIP and the Index of Core Industries now use 2022-23 as the base year (earlier base: 2011-12).
- The IIP is compiled by the National Statistical Office (NSO) under MoSPI.
- The revised core index covers nine industries, with iron ore newly added.
- The revision followed the recommendations of the Praveen Mahto Committee.
- Base-year revision updates the weights and item basket so the index reflects the current industrial structure.
पूर्व · मुख्य
How the exam will ask it
पूर्व
- The Index of Industrial Production is compiled and released by the National Statistical Office, Ministry of Statistics and Programme Implementation.
- The Index of Core Industries now covers nine industries after iron ore was added in the 2022-23 base-year revision.
- Rebasing an index changes its reference year, weights and item basket, so that it better reflects the current economic structure.
- The revision of the IIP and core index followed the Praveen Mahto Committee's recommendations.
मुख्य
GS-III (Indian economy; statistics). Outdated base years distort growth measurement and weights, so rebasing to 2022-23 with iron ore added in the core list aligns the IIP with the present industrial structure. Better, timely data supports sound monetary and fiscal policy; the way forward is regular rebasing, wider coverage of services and informal manufacturing, and lower revision gaps.
PYQ connection
A question UPSC has already asked on this
In India, in the overall Index of Industrial Production, the Indices of Eight Core Industries have a combined weight of 37.90%. Which of the following are among those Eight Core Industries?
- Cement
- Fertilizers
- Natural gas
- Refinery products
- Textiles
Select the correct answer using the codes given below:
- 1 and 5 only
- 2, 3 and 4 only
- 1, 2, 3 and 4 only
- 1, 2, 3, 4 and 5
उत्तर पहा
उत्तर: C
Why this matters: today's issue is directly connected to a concept UPSC has already tested. Read the story with this question in mind.
Practise this PYQ →Quick recall
Answer before you reveal
The Index of Industrial Production (IIP), now rebased to 2022-23, is compiled and published by the:
- Office of the Economic Adviser, DPIIT
- Reserve Bank of India
- National Statistical Office, MoSPI
- NITI Aayog
उत्तर पहा
उत्तर: C — The correct answer is National Statistical Office, MoSPI. The NSO under the Ministry of Statistics and Programme Implementation compiles and releases the IIP.
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