The Central Statistical Organisation (CSO) will launch a new series of Index of Industrial Production (IIP) tomorrow. The new series will have 45% more items and it has 2004-05 as its base year, reports CNBC-TV18’s Latha Venkatesh.
Currently IIP had 1993-94 as the base year and therefore includes lots of redundant items like typewriter and tape recorder. The new base year 2004-05 will now include items like cellphones, ipod among others.
Sources say that the new base is broader and will scale up to 600 items instead of 400. So, there are expectations that the new items will bring in stability. However, the government will continue the old series data for three more months to maintain comparibilty.
Meanwhile, a CNBC-TV18 poll indicates that industrial output in April jumped by 5.1%, which is slower than the 7.3% rise in March. April IIP is likely to be seasonally softer and may indicate slowdown.
source-moneycontrol
stevenson
management trainee-fundamental analyst
DENIP Consultants Pvt Ltd.
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