The new industrial output data will reflect modern realities in the country’s economic journey. Tape recorders, typewriters, sewing machines, television receivers and pencils will no longer form part of the basket to calculate the Index of Industrial Production (IIP).
Instead, computer UPSs, inverters, computer stationery, shampoo, colour television sets, instant food mixes, skimmed and pasteurised milk, cattle and poultry feed, woollen carpets, apparel, writing and printing paper, newspapers, glass sheets, lenses and molasseswill now form part of the basket.
“The new series with a base of 2004-05 is more representative and is meant to capture the widest range of industrial activity,” Chief Statistician T C A Anant told reporters. The number of item groups in the manufacturing sector has gone up from 473 to 620, while that in mining has come down from 64 to 61.
The weight of manufacturing is down to 75.53 per cent, from 79.36 per cent in the earlier 1993-94 base.
The weight of mining has gone up to 14.15 per cent from 10.47 per cent. The weight of electricity has gone up from 10.17 to 10.32 per cent.
