ECONOMY
Amid base year revision, government mulls seasonal adjustment of IIP data
- IBJ Bureau
- Jan 29, 2026
The Ministry of Statistics and Programme Implementation (MoSPI) is undertaking the base revision exercise of the Index of Industrial Production (IIP).
IIP data includes output data from various sectors, such as manufacturing, mining, electricity generation and output of capital goods, among others.
MoSPI is revisiting methodologies, exploring new data sources and incorporating changes after comprehensive consultations with experts, academicians, users and other stakeholders.
Although, industrial production is significantly influenced by seasonality and calendar effects, India has not attempted to publish seasonally-adjusted IIP series so far and users are expected to undertake such analysis separately using methods and tools of their choice.
However, in light of an increasing demand for a seasonally-adjusted IIP among users, MoSPI has prepared a discussion paper that outlines the proposed methodology for seasonal adjustment of IIP.
Under the proposal, the ministry would strip out predictable patterns from monthly industrial data, separating underlying trends from temporary fluctuations and irregular shocks before publishing adjusted figures.
The proposal is a part of a broader push to overhaul key economic data series by revising base years and updating methods to better match the current economic structure. The base year for IIP data is due to be revised in May from 2011-12 to 2022-23.
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