Index of Industrial Production (IIP) with base year (2004-2005=100) released the data on Industrial output on 12 September 2013. The general Index for the month of July 2013 stands at 2.6 percent higher as compared to in the month of July 2012 due to improved performance of manufacturing and power sectors.
The manufacturing sector, which constitutes over 75 percent of IIP, grew by 3 percent in July 2013 as compared to zero growth in the month of July 2012. During April-July 2013, the sector saw a decline of 0.2 percent as compared with a contraction of 0.6 percent in April-July 2012. Among the 22 industry groups in the manufacturing sector, 11 recorded positive growth in July 2013.
Power generation increased by 5.2 percent in July 2013 as against a growth of 2.8 percent in July in 2012. Power generation in the April-July grew 3.9 percent compared with an expansion of 5.5 per cent in April- July 2012.
Mining output declined by 2.3 percent as compared to July 2012.
As for use base classification the growth rates in July 2013 over July 2012 are 1.7 percent in basic goods, 15.6 percent in capital goods and 2.4 percent in intermediate goods. The consumer durables declined by 9.3 percent and non durables increased by 6.8 percent .The overall growth in consumer goods declined by 0.9 percent.
Consumer goods output contracted by 0.9 percent in July 2013 as compared with the expansion of 0.7 percent in the same month of 2012.
About Index of Industrial Production (IIP)
It is an index which shows the performance of various sectors in an economy. It is released by the Central Statistics Office (CSO) of the Ministry of Statistics and Program Implementation of Government of India. It has 8 core industries. They are Coal, Crude Oil, Natural Gas,Petroleum Refinery products, Fertilizers, Steel, Cement and Electricity.
IIP is a composite index: The all India IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period. It is compiled and published monthly by the Central Statistics Office (CSO) with the time lag of six weeks from the reference month.
IIP is compiled using data received from 16 sources of Department of Industrial Policy and Promotion (DIPP), Indian Bureau of Mines, Central Electricity Authority, joint Plant committee, Ministry of Petrolo9em and Natural Gas, office of Textile Commissioner, Department of Chemical and Petrochemicals, Directorate of Sugar, Department of Fertilizers, Directorate of Vanaspati , Vegetable Oils and Fats, Tea Board; Office of Jute Commissioner, Office of Coal Controller and Railway Board; Office of Salt Commissioner and Coffee Board.
About Central Statistical Office
The CSO is one of the two wings of the Department of Statistics. Other wing of Department of Statics is National Sample Survey Office (NSSO)).It is responsible for coordination of statistical activities in the country and maintains statistical standards. Its activities include compilation of National Accounts, conduct of Annual Survey of Industries and Economic Censuses, compilation of Index of Industrial Production, as well as Consumer Price Indices. It also deals with various social statistics, training, international cooperation, Industrial Classification etc.