The base year for wholesale price index (WPI) and Index of Industrial Production (IIP) may soon be changed to 2011-12 from the current 2004-05, a top government official said on Monday.
The base year of WPI and IIP is likely to be revised to 2011-12, Central Statistical Organisation (CSO) Director General G.C. Manna said here at the inauguration of two-day national review workshop on Support for Statistical Strengthening (SSS) Scheme and compilation of Consumer Price Index (CPI).
There will be a meeting of a small group on March 14, including secretaries of statistics and industries and the Cabinet Secretary, on the issue, he said.
The change in base year is expected to bring more accuracy in the CPI and IIP data.
--IANS
mm/rn
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app