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With reference to the Index of Industrial Production (IIP), consider the following statements:
1. It is compiled and published monthly by the National Statistical Office (NSO).
2. It measures the growth rate of only broad sectors such as mining, manufacturing, and electricity.
3. IIP is significant because it is used by the Reserve Bank of India (RBI) for policy-making purposes.
Select the correct answer using the code given below:
  • a)
    1 only
  • b)
    2 and 3 only
  • c)
    1 and 3 only
  • d)
    1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
With reference to the Index of Industrial Production (IIP), consider t...
Index of Industrial Production (IIP)
The Index of Industrial Production (IIP) is a key economic indicator that measures the growth rate of various sectors of the economy. It is compiled and published monthly by the National Statistical Office (NSO) in India.

Key Statements
- Statement 1: It is compiled and published monthly by the National Statistical Office (NSO).
This statement is correct. The NSO is responsible for compiling and releasing the IIP data on a monthly basis.
- Statement 2: It measures the growth rate of only broad sectors such as mining, manufacturing, and electricity.
This statement is also correct. The IIP tracks the performance of sectors such as mining, manufacturing, and electricity, providing valuable insights into the overall industrial activity in the country.
- Statement 3: IIP is significant because it is used by the Reserve Bank of India (RBI) for policy-making purposes.
This statement is true. The RBI uses the IIP data to assess the performance of the industrial sector, which in turn influences its policy decisions related to interest rates and other monetary measures.
Therefore, the correct answer is option C - 1 and 3 only. The IIP is an important indicator for policymakers, economists, and investors as it reflects the health of the industrial sector and provides insights into the overall economic growth of the country.
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With reference to the Index of Industrial Production (IIP), consider the following statements:1. It is compiled and published monthly by the National Statistical Office (NSO).2. It measures the growth rate of only broad sectors such as mining, manufacturing, and electricity.3. IIP is significant because it is used by the Reserve Bank of India (RBI) for policy-making purposes.Select the correct answer using the code given below:a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?
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With reference to the Index of Industrial Production (IIP), consider the following statements:1. It is compiled and published monthly by the National Statistical Office (NSO).2. It measures the growth rate of only broad sectors such as mining, manufacturing, and electricity.3. IIP is significant because it is used by the Reserve Bank of India (RBI) for policy-making purposes.Select the correct answer using the code given below:a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Index of Industrial Production (IIP), consider the following statements:1. It is compiled and published monthly by the National Statistical Office (NSO).2. It measures the growth rate of only broad sectors such as mining, manufacturing, and electricity.3. IIP is significant because it is used by the Reserve Bank of India (RBI) for policy-making purposes.Select the correct answer using the code given below:a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 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. It is compiled and published monthly by the National Statistical Office (NSO).2. It measures the growth rate of only broad sectors such as mining, manufacturing, and electricity.3. IIP is significant because it is used by the Reserve Bank of India (RBI) for policy-making purposes.Select the correct answer using the code given below:a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
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