New IIP

General IIP growth rises to 6.7 per cent in 2023-24 under the 2022-23 base, compared with 5.9 per cent in the old series, and remains higher at 6.4 per cent versus 4 per cent in 2024-25

The quick estimate of the IIP stood at 118.9 in April 2026, up from 113.1 in the corresponding month last year

Govt revised the base year for calculating macroeconomic indicators to 2011-12

Changes in the product basket aim at capturing economic data in a more comprehensive manner

New age items such as smart phone, laptops and tablets are likely to enter into the new series of the Index of Industrial Production (IIP) to be launched on Friday. Similarly, chocolates, noodles, harmonium, guitar, cricket bat and ball may be included in the new Wholesale Price Index (WPI).Both the indices will have a new base year of 2011-12 against the current 2004-05 to bring them at par with other macro economic data such as gross domestic product and the consumer price index. Also, games and toys may be made a separate category in WPI, under which items such as dolls, cycle, carom board, playing cards, among others may come, an official said. Besides football, which was already part of the current series, other sporting items such as tennis and badminton rackets will be added to the sports category list, he said.While mobile phones have been on IIP since the 1993-04 series, they include only the old bar phone models.For long, economists and think-tanks have been pitching for ...