economics medium Fill in the Blank

The Index of Industrial Production (IIP) currently uses ___ as its base year for calculating the growth rates of industrial output in India.

  1. 2011-12
  2. construction (or real estate / infrastructure)
  3. multiplier
  4. notice

Answer: 2011-12

The base year for the IIP was updated from 2004-05 to 2011-12 in May 2017 to align it with the base years of other major macroeconomic indicators like the GDP and WPI. This update also revised the item basket to better reflect the current structure of the Indian manufacturing and industrial sectors.

Topic Indian Economy - Industry
Exam Relevance SSC, Railway, UPSC
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