Govt approves new industrial output index

The new index of industrial production which will come into effect from June 10, with the base year 2004-05, has been approved by the Committee of Secretaries (CoS), an official said.

The new items in the Index of Industrial Production (IIP) would also include computer stationary, newspapers, chemicals like ammonia, ammonia sulphate, electrical products like solder power systems, gems and jewellery and molasses.

On the other hand, obsolete articles like typewriters, loud speakers and VCRs would be taken off to make the series representative of the present-day industrial production and demand scenario.

The base year for the new series will be changed to 2004—05 from 1993—94. The IIP for April would be based on the new model of measuring the country’s factory output.

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