UPSC Prelims Practice Questions — FIRST PRESS RELEASE OF ALL INDIA INDEX OF INDUSTRIAL PRODUCTION OF NEW SERIES WITH BASE YEAR 2022-23

Q1. The Technical Advisory Committee (TAC) constituted to advise on the revision of the base year of the All-India Index of Industrial Production (IIP) to 2022-23 has been set up under which one of the following?

  • A. Reserve Bank of India
  • B. NITI Aayog
  • C. Ministry of Statistics and Programme Implementation
  • D. Department for Promotion of Industry and Internal Trade

Q2. In the new All-India Index of Industrial Production (IIP) series with base year 2022-23 released by MoSPI, which one of the following sectors has the largest weight?

  • A. Mining
  • B. Manufacturing
  • C. Electricity
  • D. Gas, Water Supply, Sewerage and Waste Management

Q3. The Technical Advisory Committee (TAC-IIP) that recommended the revision of the base year of the All-India Index of Industrial Production to 2022-23 was constituted under the chairmanship of:

  • A. Dr. Bibek Debroy
  • B. Dr. Pronab Sen
  • C. Dr. Mridul K. Saggar
  • D. Dr. Rajiv Kumar

Q4. With reference to the first press release of the All-India Index of Industrial Production (IIP) on the new series (base year 2022-23) issued in June 2026, which one of the following best describes the IIP?

  • A. A value index of the gross sales turnover of registered factories compiled quarterly by the RBI
  • B. A composite volume index of short-term changes in the production of industrial products, compiled monthly by the National Statistics Office under MoSPI
  • C. A price index measuring wholesale price movements of manufactured products, released by the Office of the Economic Adviser, DPIIT
  • D. An annual chain-weighted index of Gross Value Added in industry compiled by the Central Board of Direct Taxes

Q5. With reference to the linked statistical overhaul undertaken by the Ministry of Statistics and Programme Implementation in 2026, which of the following statements are NOT correct?

  1. The new series of Gross Domestic Product (GDP) estimates adopts 2022-23 as its base year, replacing 2011-12.
  2. The new series of the Consumer Price Index (CPI) adopts 2022-23 as its base year, in alignment with the new GDP series.
  3. The new series of the Index of Industrial Production (IIP) adopts 2022-23 as its base year.
  4. The item basket and weights of the new Consumer Price Index series are based on the Household Consumption Expenditure Survey of 2011-12.
  • A. 1 and 3
  • B. 2 and 4
  • C. 2 only
  • D. 1, 2 and 4

Q6. With reference to the new Consumer Price Index (CPI) series released by the Ministry of Statistics and Programme Implementation in February 2026 vis-à-vis its predecessor, consider the following statements:

  1. The number of weighted items at the All-India level has increased from 299 in the earlier series to 358 in the CPI 2024 series.
  2. The new CPI series discontinues the Classification of Individual Consumption According to Purpose (COICOP) 2018 and reverts to an earlier indigenous classification structure.
  3. Unlike the new CPI series, the new Gross Domestic Product (GDP) series released on 27 February 2026 retains 2011-12 as its base year.
  • A. 1 only
  • B. 1 and 3 only
  • C. 2 and 3 only
  • D. 1, 2 and 3

Q7. With reference to the new series of the All-India Index of Industrial Production (base 2022-23) compared with the earlier 2011-12 series, consider the following statements:

  1. The new series continues to use the National Industrial Classification (NIC) 2008, which has been the classification framework for the Annual Survey of Industries since ASI 2008-09.
  2. The manufacturing item basket in the new series has been drawn from ASI 2021-22 and ASI 2022-23, with items covering up to 90 per cent of output at the NIC 3-digit level being considered for selection.
  3. Unlike the 2011-12 series, the new series assigns item weights at the NIC 4-digit level in proportion to Gross Value Added (GVA) rather than Gross Value of Output (GVO).
  • A. 1 and 2 only
  • B. 2 and 3 only
  • C. 1 and 3 only
  • D. 1, 2 and 3

Q8. The All-India Index of Industrial Production (IIP), in its new base-2022-23 series, is compiled and released exclusively by which one of the following?

  • A. National Statistics Office under the Ministry of Statistics and Programme Implementation
  • B. Central Statistics Office under the NITI Aayog
  • C. Department for Promotion of Industry and Internal Trade under the Ministry of Commerce and Industry
  • D. Office of the Economic Adviser under the Ministry of Commerce and Industry

Q9. With reference to the Technical Advisory Committee on Base Year Revision of the All-India Index of Industrial Production (TAC-IIP), which of the following were NOT among the discussion papers released by the Committee in the public domain?

  1. Substitution of factories in IIP compilation
  2. Adoption of a chain-based IIP
  3. Seasonal adjustment of the IIP
  4. Inclusion of services sector output in the IIP basket
  • A. 1 and 3
  • B. 2 and 4
  • C. 4 only
  • D. 1, 2 and 3

Q10. Who chaired the Technical Advisory Committee on Base Year Revision of the All-India Index of Industrial Production (TAC-IIP), constituted by the Ministry of Statistics and Programme Implementation in September 2024?

  • A. Dr. C. Rangarajan
  • B. Dr. Pronab Sen
  • C. Dr. Bibek Debroy
  • D. Dr. Mridul K. Saggar