Major revamp of IIP, WPI planned to get a real picture of economy

To present a more realistic picture of the economy, the Index of Industrial Production and Wholesale Price Index are to be re-cast. The changes, based on the suggestions made by a high-level committee headed by Saumitra Chaudhuri, Member, Planning Commission and Prime Minister’s Economic Advisory Council, will include a shift in the base year and the product list for both the IIP and the WPI.

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