Laspeyres fixed base formula is used while measuring IIP. IIP full form is the Index of Industrial Production. IIP shows the growth rates in different industry groups of the economy in a stipulated period of time. IIP measures the change in the volume of production output in various industrial sectors. You can read about the Index of Industrial Production [UPSC Economy Notes] in the given link.
The data concerning IIP in India, was earlier published by Central Statistical Office (CSO) which is now known as National Statistical Office (NSO) after merger with National Sample Survey Office (NSSO). The IIP is measured on a monthly basis.
Further readings:
- Merger of NSSO and Central Statistical Office (CSO) to form National Statistical Office (NSO)
- Core Sectors of the Indian Economy
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