The basket of goods for Index of Industrial Production has been revised from the base year of 2004-05 to 2011-12. The methodological changes introduced are summarised as below:
The IIP in the new series consists of three sectors i.e. Mining, Manufacturing and Electricity.
The new basket consists of 407 item groups with 259 item groups common with the old basket.
The weights for the new series at the sectoral level have been calculated using the GVA figures from National Accounts Statistics (NAS) with base year 2011–12.
In the revised IIP basket, data on a total of 109 item groups have been collected in value ....
