The Ministry of Statistics and Programme Implementation (MoSPI) on March 16, 2026, notified regarding the revision of the base year of the Index of Industrial Production from 2011-12 to 2022-23.
The following has been stated:
• The revision includes updating the methodology, item basket, weights, data sources, and factory coverage, along with adopting a chain-linked approach to capture structural changes and emerging sectors.
• A Technical Advisory Committee (TAC-IIP) has been constituted to guide methodological improvements.
• The revised IIP series is expected to be released in May 2026.
• Additionally, the base year revisions for CPI (12 February 2026) and GDP (February 27, 2026) have already been completed and released, as informed by Rao Inderjit Singh in the Rajya Sabha.
[Press release id: 2240624]
