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With reference to the Index of Industrial Production (IIP), consider the following statements:
1. IIP is compiled and published quarterly by the National Statistical Office (NSO).
2. Base Year for IIP is 2011-2012.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
With reference to the Index of Industrial Production (IIP), consider t...
  • Index of Industrial Production (IIP) is an indicator that measures the changes in the volume of production of industrial products during a given period.
  • It is compiled and published monthly by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation. Hence, statement 1 is not correct.
  • It is a composite indicator that measures the growth rate of industry groups classified under:
    • Broad sectors, namely, Mining, Manufacturing, and Electricity.
    • Use-based sectors, namely Basic Goods, Capital Goods, and Intermediate Goods.
  • Base Year for IIP is 2011-2012. Hence, statement 2 is correct.
  • Significance of IIP:
    • It is used by government agencies including the Ministry of Finance, the Reserve Bank of India, etc, for policy-making purposes.
    • IIP remains extremely relevant for the calculation of the quarterly and advance GDP (Gross Domestic Product) estimates.
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With reference to the Index of Industrial Production (IIP), consider the following statements:1. IIP is compiled and published quarterly by the National Statistical Office (NSO).2. Base Year for IIP is 2011-2012.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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With reference to the Index of Industrial Production (IIP), consider the following statements:1. IIP is compiled and published quarterly by the National Statistical Office (NSO).2. Base Year for IIP is 2011-2012.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Index of Industrial Production (IIP), consider the following statements:1. IIP is compiled and published quarterly by the National Statistical Office (NSO).2. Base Year for IIP is 2011-2012.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Index of Industrial Production (IIP), consider the following statements:1. IIP is compiled and published quarterly by the National Statistical Office (NSO).2. Base Year for IIP is 2011-2012.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
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