21 Apr 2012

Revision in the Index of Industrial Production for the Month of January 2012 and IIP for February 2012

12-April-2012: (PIB )-Dr. T.C.A. Anant, Secretary, Ministry of Statistics & Programme Implementation has informed that Ministry had released Index of Industrial Production (IIP) for the month of January, 2012 through a Press Release dated 12th March, 2012. Subsequent to the release, it has been detected at the time of compilation of IIP for the month of February, 2012 that during the compilation of IIP for January, 2012, the sugar production was wrongly taken as 134.08 lakh tonnes in place of actual figure of 58.09 lakh tonnes. This wrong figure was taken because of incorrect reporting by the Directorate of Sugar in the Ministry of Consumer Affairs, Food & Public Distribution. Immediately after detection of the error, the revised IIP numbers and growth rates for the month of January, 2012 have been compiled. Due to this change and also minor updation of data received from other source agencies, the IIP for January 2012 has been revised from 187.9 to 177.9 and, therefore, growth rate over the corresponding period of previous year has been revised from 6.8% to 1.1%. Further, cumulative index for the period April, 2011 to January, 2012 which was released as 169 has been revised to 168. Consequently, cumulative growth rates have been revised from 4% to 3.4%. 

These changes have resulted in decline in the growth rate of Index for consumer non-durables, which was reported earlier as 42.1%, to 11%. Further, the growth rate of overall consumer goods reported earlier as 20.2% has declined to 2.9%.

He further informed that IIP for the month of February, 2012 is 174.9 which is 4.1% higher as compared to the level in the month of February, 2011. The cumulative growth for the period April-February, 2011-12 stands at 3.5% over the corresponding period of previous year. 

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