Index of Industrial Production MCQ for RBI Grade B

Dear aspirants,
We are presenting you the Index of Industrial Production MCQ for RBI Grade B Finance Section of the exam.These questions will cover the topics on IIP which are very important from exam point of view. Read the article on Index of Industrial Production before attempting the MCQs. Also do read the answers provided at the end of quiz.

Q1. Which among the following index helps to understand the growth of various sectors of Indian Economy?

1. Wholesale Price Index (WPI)
2. Consumer Price Index (CPI)
3. Index of Industrial Production (IIP)
4. RESIDEX

Q2. What is base year of the Index of Industrial Production (IIP)?

1. 2004-05
2. 2007-08
3. 2010-11
4. 2011-12

Q3. Who compiles and publishes the Index of Industrial Production (IIP)?

1. Central Statistics Office
2. Office of Economic Adviser, Ministry of Commerce and Industry
3. Reserve Bank of India
4. None of these

Q4. What is the frequency of publication of Index of Industrial Production (IIP)?

1. Fortnightly
2. Monthly
3. Quarterly
4. Annually

Q5. What is the time lag in publication of Index of Industrial Production (IIP)?

1. Four weeks
2. Five weeks
3. Six weeks
4. Eight weeks

Q6. IIP is compiled on data sources from how many different agencies?

1. Five
2. Ten
3. Fifteen
4. Sixteen

Q7. The new series of IIP has clubbed the items into how many item groups?

1. 865
2. 407
3. 620
4. 109

Q8. How many items comprise the new series of Index of Industrial Production (IIP)?

1. 865
2. 405
3. 620
4. 109

Q9. Which sector of economy has been given maximum weightage in IIP?

1. Mining
2. Electricity
3. Manufacturing
4. None of these

Q10. What is the weightage of core industries in IIP?

1. 27%
2. 97%
3. 57%
4. 27%

Answers

1. 3
   Index of Industrial Production (IIP) helps to understand the growth of various sectors of Indian Economy
2. 4
   the base year of the all-India Index of Industrial Production (IIP) has been revised from 2004-05 to 2011-12 in May 2017.
3. 1
   The responsibility for compilation and publication of IIP is vested with CSO
4. 2
   It is compiled and published monthly by the central statistical organisation (CSO)
5. 3
   It is compiled and published monthly by the central statistical organisation (CSO) six weeks after the reference month ends
6. 4
   IIP is compiled on data sources from sixteen different agencies
7. 2
8. 1
   The items selected for new series of IIP with base 2011-12 comprised of 865 items, which were clubbed in 407 item groups
9. 3
   The weights of the three sectors are : Manufacturing – 77.63%, Mining – 14.37%, Electricity – 7.99%
10. 1
    The eight Core Industries comprise nearly 40.27 % of the weight of items included in IIP

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