Index of Industrial Production — Mains Questions

Analyze the role of Index of Industrial Production (IIP) as an economic indicator in India's policy formulation. Discuss its limitations and suggest measures to enhance its effectiveness.

The COVID-19 pandemic significantly impacted India's industrial production as reflected in IIP data. Examine the sectoral variations in recovery patterns and their implications for India's industrial policy.

Compare and contrast the Index of Industrial Production (IIP) with Manufacturing PMI as indicators of industrial performance. Discuss their complementary roles in economic analysis.