Recently the January 2018 data for Index of Industrial Production witnessed expansion of 7 5 Which o...........

Economic Affairs Industrial sectors

Recently, the January 2018 data for Index of Industrial Production witnessed expansion of 7.5%. Which of the following about Index of Industrial Production is/are correct?

Index of Industrial Production is compiled and published by National Sample Survey Organisation.

Manufacturing sector has the highest weight followed by mining and electricity in decreasing order in calculation of Index of Industrial Production.

Index of Industrial Production covers 500 item groups from three categories – manufacturing, mining and electricity.

The base year for calculation of Index of Industrial Production is 2004-05.

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Explanation:

.....The Index of Industrial Production (IIP) is an abstract number or ratio which measures the growth of various sectors in the economy. In India, IIP is a representative figure which measures the general level of Industrial activity in the country. Being an abstract number, it does not show volume of activity and only shows the magnitude which represents the status of production in the industrial sector for a given period of time as compared to a reference period of time.
Currently IIP data is released every month by CSO (Central Statistical Office) which was set up in 1951. Current IIP Base year is 2004-05.
Maximum weightage is of manufacturing items (755.27), followed by Mining (141.57) and Electricity (103.16)
Currently, the Index of Industrial Production comprises 682 individual items