According to the data released by Central Statistics Office (CSO), IIP has grew at 6.6% in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables. What is the full form of IIP?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Index of Industrial Power
B	Index of Industrial Production
C	Index of Industrial Purchasing
D	Index of Industrial Particular

Explanation:

Detailed explanation-1: -For the month of July 2022, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 134.6. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July 2022 stand at 101.1, 135.2 and 188.9 respectively.

Detailed explanation-2: -The Index of Industrial Production (IIP) grew by 1 per cent in November 2021. As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector’s output grew by 6.1% in November 2022. The mining output rose by 9.7% and power generation increased by 12.7% during the month under review.

Detailed explanation-3: -Industrial production in India increased 4.3% year-on-year in December of 2022, easing from an upwardly revised 7.3% rise in November, and slightly below market forecasts of a 4.5% gain. Electricity production recorded the biggest increase (10.4%), followed by mining (9.8%) and manufacturing (2.6%).

Detailed explanation-4: -The Index of Industrial Production (IIP) had grown 4.2% in October 2021 and by 3.1% in September 2022. IIP contracted to 129.6 in October from 133.5 in September.

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