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| New consumer price index likely by August 2010 |
| Press Trust of India / New Delhi May 03, 2009, 16:53 IST |
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Amid the debate over rising prices when inflation is tending towards zero, the government has initiated action to introduce a new consumer price index (CPI) by August next year.
The new 'consumer price index' would be available with four sub-sections to reflect prices at national, rural, urban and state levels on monthly basis.
"Since the data collection for rural as well as urban India would start by July, the new CPI would be out exactly one year after that in August, 2010," Central Statistical Organisation Chief Statistician Pronab Sen told PTI.
He said, "We would complete the entire process of engaging 2,400 postmen for collection of retail price from 1,200 villages in the country by June end. We would identify postmen in May and train them in June."
Preparation for the new CPI for urban India has been completed in March. The CSO is ready for collecting data from retail outlets in 100 cities and town.
Sen pointed out, "The tying up for collection of rural data is a major development as without this, getting new CPI-National would have not been possible. By engaging postmen for the purpose, we would save around Rs 5 crore every year."
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