Construction of index of industrial production(IIP) in India involves _____.

Classification of industries

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Classification of consumer class

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Information about family expenditure or budget

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Weightage given to different industries based on their relative importance

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Solution

The correct options are
A
Classification of industries

D
Weightage given to different industries based on their relative importance

IIP requires classification of industries based on their relative importance, weights are given. Classification of consumer class and information about family expenditure or budget are covered under CPI and not IIP.

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