New PPI model finalised, govt working on WPI base revision: DPIIT secretary
Producer Price Index (PPI) to efficiently capture input prices in the economy and has shared it with the IMF, the Department of Promotion of Industry and Internal Trade (DPIIT) secretary Rajesh Kumar Singh said
on Thursday. He also said the government is working towards changing the base year of the wholesale price index (WPI) from 2011-12 at present.
India is planning to move from the WPI to PPI going ahead in sync with most G20 economies. Consultations with the ministry of statistic and programme implementation (MoSPI) have been done. “It has to go through a process, including National Statistical Commission (NSC) but we are on the job…The model from our side is final and we have shown it to the IMF,” Singh said.
While the process of procedural clearances is on, the secretary didn’t give a timeline.
Noting that there was also a request to change the base year of the WPI, he said this is also one of the issues that the government is considering.
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« Back to recommendation storiesI don't want to see these stories becauseSUBMITIn 2021, the DPIIT had issued a draft technical report of a working group, which had suggested revising the base year of WPI and addition of about 480 new items such as medicinal plants, pen drive, lifts, gymnasium equipment and certain motorcycle engines in the new series. 2017-18 was being considered to be the new base year.
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