___ measures output in sectors like electricity, mining, and manufacturing.

Key Points

• The Index of Industrial Production (IIP) is a statistical measure that reflects the growth and performance of various industrial sectors such as electricity, mining, and manufacturing.
• It is released by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation.
• The IIP is a key indicator used to gauge the level of industrial activity in the economy over a specific period.
• The base year for calculating IIP is periodically revised to reflect changing industrial patterns; as of now, the base year is 2011-12.

Important Points

• The IIP is published monthly and provides data for the three key sectors: mining, manufacturing, and electricity.
• It helps policymakers and analysts understand the trends and patterns in industrial production and make informed decisions.
• The performance of the manufacturing sector within the IIP is often used to gauge the overall health of the economy.
• IIP data is crucial for calculating the quarterly and annual Gross Domestic Product (GDP).

Additional Information

• Gross Domestic Product (GDP): GDP measures the total value of goods and services produced within a country over a specific period. It is a broader indicator of economic health, encompassing all sectors of the economy.
• Current Account Balance: This refers to the difference between a country's savings and its investment. It includes net trade in goods and services, net earnings on cross-border investments, and net transfer payments.
• Fiscal Surplus/Deficit: This indicates the difference between the government's total revenue and total expenditure. A fiscal surplus occurs when revenue exceeds expenditure, while a deficit occurs when expenditure exceeds revenue.
• Industrial Sectors: Key sectors measured under the IIP include mining, manufacturing, and electricity, which are critical for understanding the industrial and economic performance of a country.