Govt sets up working group to revise WPI base year to 2022-23
WPI) with base 2022-23 from 2011-12.
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The group will suggest the commodity basket of WPI and Producer Price Index (PPI) with base year 2022-23 in the light of structural changes in the economy, and review the existing system of price collection and suggest changes for improvement, the commerce and industry ministry said in a statement Thursday.
“The Working Group has been asked to submit its final report to the Office of the Economic Adviser within 18 months of issue of this notification,” the ministry said.
The current WPI base year 2011-12 series was launched in May 2017.
As per its terms of reference, the group will decide on the computational methodology to be adopted for WPI and PPI, suggest any improvements to enhance their reliability
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