JOIN USSeeking to bring more accuracy in mapping the level of industrial activity, the government is set to launch the new Index of Industrial Production (IIP) series on May 12.
The new series will come with 2011-12 (April-March) as the base year. It will be released by Chief Statistician of India T C A Anan on May 12, the government sources said.
Earlier, the new series was scheduled to be launched on May 9. The current series has 2004-05 as the base year.
Apart from the base year, the new series will also revise the items in the series. Earlier, the government had introduced a new GDP series with 2011-12 as the base year, Following that it had also introduced a new Consumer Price Inflation series with 2012 as the base year.
Next in the line is introduction of a new Wholesale Price Index series with 2011-12 as the base year.