Q12. Consider the following statements.

1. Index of Industrial Production is compiled by Central Statistical Organisation.

2. 2015-16 is considered as the ‘base year’ for calculation.

3. Manufacturing sector has the maximum weightage in the index.

Which of the above statement(s) is/are correct?

(a) Only 1 and 2

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(b) Only 2 and 3

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(d) All of the above

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Solution

The correct option is C
(c) Only 1 and 3

The IIP is composite indicator that measures short-term changes in volume of production of basket of industrial products during given period with respect to chosen base period. It is compiled and published monthly by Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation. The weightage in decreasing order is Manufacturing, Mining and Electricity. The base year is 2011-12

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