WPI Base Year Revise Discussions On: DPIIT
The inter-ministerial consultations are in the process of the Wholesale Price Index (WPI) base year revising discussions
The inter-ministerial consultations are in the process of the Wholesale Price Index (WPI) base year revising discussions. It would be changed from 2011 – 2012 to 2017 -2018.
This announcement has come from Anurag Jain, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT).
The move to revise the base year to 2017 – 2018 for the computation of wholesale inflation would enable the presentation of a greater realistic picture of the price situation across the country.
In June 2021, the DPIIT issued a draft technical report of a working group.
This report has suggested that the base year of the wholesale price index should be revised.
The report also suggested adding around 480 new items in the new series.