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The base year for the calculation of all-India Index of Industrial Production (IIP) is:
  • a)
    2004-05
  • b)
    2005-06
  • c)
    2010-11
  • d)
    2011-12
Correct answer is option 'D'. Can you explain this answer?
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The base year for the calculation of all-India Index of Industrial Pro...
The CSO had revised the base year of the IIP from 2004-05 to 2011-12 in May 2017 to capturestructural changes in economy and improves quality and representativeness of indices. The revised IIP(2011-12) reflects the changes in industrial sector and also aligns it with base year of othermacroeconomic indicators like Wholesale Price Index (WPI) and Gross Domestic Product (GDP).
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The base year for the calculation of all-India Index of Industrial Pro...
Base Year for All-India Index of Industrial Production (IIP)
The base year for the calculation of the All-India Index of Industrial Production (IIP) is 2011-12. This means that the IIP data is compared to the levels in the base year to determine the growth or contraction in industrial production.

Importance of Base Year
- The base year is crucial as it serves as a reference point for measuring changes in industrial production over time.
- It helps in comparing the current levels of industrial output with the levels in the base year to assess the growth or decline in production.
- The choice of base year impacts the calculation of various economic indicators and policies based on industrial production data.

Significance of 2011-12 as Base Year
- The base year was shifted to 2011-12 from the previous base year of 2004-05 to capture the changing economic scenario and industrial structure accurately.
- The new base year reflects the more recent production patterns and technological advancements in the industrial sector.
- It provides a more relevant and up-to-date reference point for analyzing industrial production trends in the Indian economy.
In conclusion, the choice of 2011-12 as the base year for the calculation of the All-India Index of Industrial Production is essential for accurately assessing the changes in industrial output and formulating policies based on this data.
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The base year for the calculation of all-India Index of Industrial Production (IIP) is:a)2004-05b)2005-06c)2010-11d)2011-12Correct answer is option 'D'. Can you explain this answer?
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