Post demonetisation, new series puts IIP growth on even higher footing

IIP rose 2.7% in March as per new series, which revises base year to 2011/12 from 2004/05

Industrial output grew at a faster pace in the months after demonetisation, according to the new index of industrial production (IIP) series released by the Central Statistics Organisation (CSO) on Friday.

While the new IIP series isn't strictly comparable with the previous one, under the new series, industrial activity expanded by 2.6 per cent in December - the first full month since the note ban decision was announced on November 8th. By comparison, the industrial output had contracted by 0.1 per cent contraction under the old series.

IIP subsequently rose to 3.8 per cent in January under the new series, higher than