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New IIP Series May Use GST Data, Be Seasonally Adjusted
Business Standard
|March 14, 2025
Statistics ministry is looking to replace obsolete, non-responsive factories, those that have changed production lines
The National Statistics Office (NSO) is mulling over using goods and services tax (GST) data in the new index of industrial production (IIP) series, which is slated to be released in February next year, Saurabh Garg, secretary, Ministry of Statistics and Programme Implementation (Mospi), said on Thursday.
Speaking at an event titled "Transforming India's National Statistical System", organised by the World Bank, he further highlighted that the new IIP series will also have a seasonally adjusted series at the sectoral level.
Besides, the new IIP series will be chain-based as the annual survey of industries (ASI) data is available to adjust the weights of different industries. Also, the ministry is working to substitute factories that have changed their line of production and become obsolete, or remained non-responsive.
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