Ramesh Chand Committee to Update WPI Base Year
The Indian government has formed an 18-member Ramesh Chand Committee to revise the Wholesale Price Index (WPI) base year to 2022-23, aiming to better reflect economic changes since 2011-12. The update intends to enhance inflation measurement accuracy and align with global standards. This transition may also lead to the adoption of a Producer Price Index (PPI), which includes goods and services. The committee will review the methodology for computing WPI and PPI and propose updates to improve reliability. Outcomes are expected to inform economic policy, improve GDP calculations, and provide a clearer picture of inflation trends.
If you like this post, please share your feedback in the comments section below so that we will upload more posts like this.
