Overview
- The Ministry of Statistics released the Technical Advisory Committee report on Monday and said the new IIP series with a 2022–23 base will be published on June 1 with index values from April 2023 and a quick estimate for April 2026.
- The revised item basket maps 1,042 products into 463 item groups aligned to NIC‑2025, with 120 new manufacturing item groups added and 64 older groups removed.
- Coverage expands beyond mining, manufacturing and electricity to include rare earth and minor minerals, piped natural gas, water supply, sewerage and waste management, and electricity will publish separate renewable and non‑renewable indices.
- The TAC recommends methodological shifts including a chain‑linked framework, geometric‑mean linking between old and new series, formal rules to substitute closed factories, panel augmentation and a move to Output PPI as the preferred deflator when available with WPI as interim.
- The changes will break historical comparability so linking factors are provided, state and unincorporated‑sector indices are proposed, and practical measures such as using tap connections and AMRUT sewerage data are suggested to measure new components.