The government is set to revamp the Index of Industrial Production. A chain-based mechanism will be adopted for enhanced data accuracy. Weights will be revised more frequently, potentially every 1.5-2 years. The base year will be updated to 2022-23, with a new series expected in 2026-27. Retail inflation item weights will also be updated more regularly.
from News-Economic Times https://ift.tt/aofOc1N
For more accurate data, IIP to use chain-based approach
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