DIPP inks deal with CMIE for IIP data

{image-Industrial Production_05112008.jpg news.oneindia.in}New Delhi, Nov 5: The Department of Industrial Policy and Promotion (DIPP) has signed an agreement with Centre for Monitoring Indian Economy to collect production data for compiling a new series of Index of Industrial Production (IIP).

Currently, IIP is determined on 1993-94 as base year. With this having become obsolete, DIPP has now decided to compile new series based on a recent year, Commerce Ministry said on Wednesday, Nov 5. Presently, DIPP compiles production data of 209 items, while Central Statistical Organisation collects remaining data from other agencies. However, IIP is generated by the CSO. CMIE has a nationwide branch network for collection of corporate sector data relating to industrial production.

UNI