Q. What is the base year for the calculation of all-India Index of Industrial Production (IIP) as of January, 2024?
Answer: 2011-12
Notes: The CSO had revised the base year of the IIP from 2004-05 to 2011-12 in May 2017 to capture structural changes in economy and improves quality and representativeness of indices. The revised IIP (2011-12) reflects the changes in industrial sector and also aligns it with base year of other macroeconomic indicators like Wholesale Price Index (WPI) and Gross Domestic Product (GDP). As of 2024, 2011-12 serves as base year for calculation of all-India Index of Industrial Production (IIP).