English Release 23-December 2014
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Ministry of Commerce & Industry05-November, 2008 14:32 IST
|CMIE to compile new series of IIP Data|
|The Department of Industrial Policy and Promotion (DIPP) has entered into an agreement with CMIE to collect production data for compiling the new series of Index of Industrial Production (IIP). The current series of IIP which is based on 1993-94 as base year is fast becoming outdated and DIPP has taken steps to compile the new series with a more recent base year.
Production data relating to 209 products is compiled by DIPP for the IIP. The remaining data is collected by the Central Statistical Organization (CSO) from other agencies. The IIP is generated by the CSO based on the data provided by the various source agencies. The DIPP is the single largest source of data for the IIP. The renewed effort of the DIPP utilizing the services of CMIE could facilitate the release of the new IIP series at an early date.
CMIE has a nationwide branch network for collection of corporate sector data relating to Industrial Production. Earlier too DIPP had utilized the services of CMIE between 2002 and 2007.
The DIPP has authorized CMIE to collect production statistics on its behalf. It is imperative that business enterprises cooperate with the government and CMIE in sharing its production statistics on a regular basis. CMIE shall, however ensure the safety and confidentiality of the information so collected and it would not make public or reveal to any person or organization other than DIPP, the information it collects from industrial units.
(Release ID :44534)