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STATISTICAL METHODS IN IIP
India overhauls inflation framework with new Producer Price Index, revised WPIIndia is set to introduce a new Producer Price Index and a revamped Wholesale Price Index from June 15. This significant overhaul aims to a...- India to revamp IIP with new base year, wider coverage from June 1India will launch an updated Index of Industrial Production on June 1. The new IIP will feature a 2022-23 base year and include sectors lik...
- India proposes broad revamp of industrial output index ahead of new seriesIndia's statistics ministry is set to unveil a new way to measure industrial output next week. Key changes include expanding the sectors tr...
- MoSPI proposes Index of Service Production with 2024-25 as base yearThe Ministry of Statistics and Programme Implementation has proposed creating an Index of Services Production (ISP) for the formal sector u...
- MOSPI proposes adoption of chain-based method of index of Industrial Production (IIP) compilationThe Ministry of Statistics and Programme Implementation is proposing a shift to a new method for calculating the Index of Industrial Produc...
- India avoids 'questionable' methods used by other nations to measure growth: CEA V Anantha NageswaranSpeaking amid scrutiny of India's stronger-than-expected 8.2% GDP growth in the second quarter of this financial year, he said, "We are eng...
- Base Year revision aims to capture digital economy, new data sources: MoSPI Secretary Saurabh GargIndia's government is updating its economic data base year. This revision will better show how the economy has changed over the last decade...
- CEA says mindset that India's data estimates being inferior needs to changeChief Economic Advisor V Anantha Nageswaran stated that India's GDP estimation methods are not inferior. He urged a change in mindset that ...
- Ministry of Statistics and Programme Implementation bats for replacing closed units in IIP IndexUnder the proposed methodology, inactive units would be substituted with active ones that have at least 12 months of overlapping data to en...
- Making a case for changing base year for GDP calculationsKrishnamurthy Subramanian's hypothesis is that base effect underestimates actual GDP growth during the lifecycle of revisions to GDP. He es...
- 23 states at additional Covid risk due to biomedical wasteA gap analysis study said 70% of the states do not have well-established systems to monitor common BMW treatment facilities (CBMWTFs) and o...
- Stat of the economy: Understanding data in the time of pandemicThe International Monetary Fund has forecast an 8.8% GDP growth for India in 2021-22. Economists and statisticians say if the economy start...
- Change in base year for GDP a regular global practice: GovernmentThe Central Statistics Office, under the ministry, had last updated base year for GDP calculation to 2011-12 from January 2015, replacing t...
- Government may unveil new base year IIP, WPI by April-end to match up with growth numbersCSO Director General G C Manna said the government is proceeding with a target of launching the new set of numbers by April-end.
- Criticism of GDP numbers hurt India’s reputation: RB Barman"Good monsoon, well spread out, would not only raise agricultural output but also contribute to a feel good factor on the expectation of po...
- CSO starts collecting value added industrial output dataWhile India's gross domestic product captures value-added figures, the index of industrial production (IIP) does not, which results in a ga...
- Why quarterly GDP figures & monthly IIP numbers are notoriously unreliableOne of the main reasons for GDP or IIP data being revised upward or downward is simply that such data is collected with a large time lag.
- Govt asks ministries to use Statistics Act for data collectionStatistics ministry is educating other depts on how to use the Collection of Statistics Act of 2008 to ensure that respondents share data w...
- No doubt on authenticity of IIP data: GovernmentThe government today said there was no question of any doubt on the credibility of the industrial production data.
- National accounting methods to be opened to publicThe government will soon put in the public domain the national accounting methods in an attempt to lift confidence in the official numbers.
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