Industrial data with new base unlikely in Jan

NEW DELHI: The much-awaited new industrial production series with a more current list of items, that was slated for launch this month, is likely to be pushed back several months due to data collection problems being faced by the Central Statistical Organisation (CSO).

The new series of Index of Industrial Production ( IIP), which would include about 150 new items, while excluding the obsolete ones like loud speakers, typewriters and VCRs, was expected to be released on January 12. However, an official said: “There is some data collection problem with the CSO. The new series is not expected in February either.” He said: “They have not prepared even the note for the Committee of Secretaries (CoS) so far.”

The CSO is responsible for collecting data for IIP as well as other national accounts like GDP. CoS needs to approve the new series, the official added.

The new series assumes significance as data collection for IIP has often been criticised because the figures indicate huge volatility at times.