Q. With reference to Index of Industrial Production (IIP) consider the following statements:
1.A rising IIP indicates that the industrial sector is doing well, while a falling IIP indicates that the industrial sector is doing poorly.
2.It is compiled and published by the Central Statistical Organisation (CSO).
3.It measures the absolute level of production in the industrial sector..
Which of the statements given above are correct?
Answer: A
Notes:
Explanation –
Statements 1 and 2 are correct. A rising IIP indicates that the industrial sector is doing well, while a falling IIP indicates that the industrial sector is doing poorly. It is compiled and published by the Central Statistical Organisation (CSO).
Statement 3 is incorrect. IIP measures the relative changes in the production of various industrial products over time, using a base year as a reference point.
Source: ForumIAS
