Economics • Indian EconomyEasy
Which organization in India is statutorily responsible for calculating and publishing the Index of Industrial Production (IIP)?
A. Reserve Bank of India (RBI)
B. NITI Aayog
C. National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation✓ Correct Answer
D. Department for Promotion of Industry and Internal Trade (DPIIT)
💡 Solution & Explanation
The National Statistical Office operates under the Ministry of Statistics and Programme Implementation to compile and release the monthly Index of Industrial Production. Alternative institutions like the Reserve Bank of India handle monetary policy formulation rather than industrial index compilation. This indicator acts as a vital macroeconomic gauge for assessing short-term changes in manufacturing, mining, and electricity sectors in the Indian economy.
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