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Clear Cut Magazine

India’s IIP Gets a New Ruler: What the Revised Industrial Index Reveals About the Economy

Statistical revision rarely makes headlines. But this one should. On June 2, 2026, the Ministry of Statistics and Programme Implementation (MoSPI) released a new Index of Industrial Production (IIP) series with 2022–23 as the base year, replacing the 2011-12 series that had become increasingly obsolete. Along with it came April 2026 data: industrial output grew…

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Rebuilding Macroeconomic Credibility: IMF’s Assessment of India’s Data Architecture

The International Monetary Fund’s (IMF) 2025 Staff Report on India reignited discussion about the nation’s statistical architecture. It rated India’s national accounts data a C-grade. It stated that the evaluation of national accounts has numerous deficiencies. It has drawn attention from around the world. Whereas other macroeconomic datasets obtained a general satisfactory B-grade. The grade…

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