How IIP Data is formed?
IIP data is a simple index which provides information about the growth of different sectors of our economy like mining, electricity, Manufacturing & General. The IIP index reflects the growth in India’s industrial activity and excludes all kinds of services. The base year for the index over the period of the analysis is 1993-94. Use-Based Classification Another classification is use-based (consumption based), where IIP is classified on the base of use like Basic Goods, Capital goods, Intermediate goods & consumer goods. Sectors in IIP Data The weightage of Indian IIP data is broadly divided into three segments – manufacturing (79.36%), mining & quarrying (10.47%) and electricity (10.17%)… Manufacturing : includes items like food items, machinery, wood furniture etc Electricity : includes generation and transmission of electricity ( from various sources like – thermal, hydro, solar etc) Mining : includes mining of coal, oil other metals etc Manufacturing is the major sector, which is
