New Index of Industrial Production with 2022-23 Base Year to Launch June 1
A revamped Index of Industrial Production (IIP) will be launched on June 1, 2026 with a new base year of 2022-23 (replacing 2011-12). Coverage expands to include minor minerals, rare earths and waste management. 120 new items — such as CCTV cameras, vaccines and lithium-ion batteries — have been added. 64 obsolete items have been removed. The update is published by the Ministry of Statistics and Programme Implementation (MoSPI).
Key Facts & Details
9 points- 1New IIP base year: 2022-23 (replacing 2011-12)
- 2Launch date: 1 June 2026
- 3120 new items added; 64 removed
- 4Now covers minor minerals, rare earths and waste management
Deep Dive
- +IIP measures the short-term changes in the volume of production in the industrial sector
- +It is a composite index; weights determined by Gross Value Added (GVA) shares
- +Three sectors: Mining, Manufacturing, Electricity
- +Use-based classification: Primary, Capital, Intermediate, Infrastructure/Construction, Consumer Durables, Consumer Non-Durables
- +MoSPI also publishes CPI (combined), GDP and Periodic Labour Force Survey (PLFS)
Exam Focus
Likely MCQ: What is the new base year of the Index of Industrial Production (IIP) starting June 2026? → Answer: 2022-23
Related Topics
Exam Relevance & Angle
IIP is a high-frequency banking awareness topic — RBI Grade B, SBI PO, IBPS PO often ask base year, sectors and weights.
Target Exams
Background & Context
The Index of Industrial Production (IIP) measures short-term changes in the volume of industrial output. It is a composite index released monthly by the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation (MoSPI).
The IIP covers three sectors:
• Mining (~14% weight)
• Manufacturing (~78% weight)
• Electricity (~8% weight)
IIP is also classified by use-based categories: Primary goods, Capital goods, Intermediate goods, Infrastructure/Construction, Consumer Durables and Consumer Non-Durables.
The previous base year was 2011-12. The new 2022-23 base year improves accuracy by reflecting current industrial structure — adding emerging sectors (rare earths, lithium-ion batteries, CCTV cameras, vaccines) while removing obsolete items.
Related GK Concepts
Must KnowTest Yourself
1 / 3What is the new base year of the revised Index of Industrial Production (IIP) launching on 1 June 2026?
This topic is important for:
