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Govt sets up working group to revise WPI base year to FY23
New Delhi 03January2025
|Millennium Post Delhi
The group will also examine the methodology for compilation of PPI, and recommend a roadmap for switch over from WPI to PPI
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The government on Thursday said it has constituted an 18-member working group, under the chairmanship of NITI Aayog Member Ramesh Chand, to revise the Wholesale Price Index (WPI) base year from 2011-12 to 2022-23.
The revision of the base year helps in presenting a more realistic picture of the price situation in the country.
As per the Terms of Reference (ToR) of the group, it will suggest the commodity basket of WPI and Producer Price Index (PPI) with the base year 2022-23 in the light of structural changes in the economy; review the existing system of price collection and suggest changes for improvement; and decide on the computational methodology to be adopted for WPI/PPI.
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