Why in news The Centre has formed an expert panel to update India's Wholesale Price Index (WPI) based on changes in the economy from...
Why in news
The Centre has formed an expert panel to update India's Wholesale Price Index (WPI) based on changes in the economy from 2011-12 to 2022-23, the new base year.
The panel, led by NITI Aayog member Ramesh Chand, will also work on developing a new Producers' Price Index (PPI) and suggest improvements in its compilation.
The panel is tasked with recommending a shift from WPI to PPI and ensuring the reliability of both indices.
The group, consisting of 18 members, has 18 months to submit its report by June 30, 2026.
Members include officials from various ministries, the RBI, GST Network, and private-sector economists like Dharmakirti Joshi, Indranil Sengupta, and Nilesh Shah.
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