Give Current Affairs Test Online of 30 June 2019. Learn about the Union Government has comprised a 18-part working gathering for the amendment of the present arrangement of Wholesale Price Index (WPI) under Chairmanship of Prof. Ramesh Chand, Member of NITI Aayog. The modification of the base year would help in exhibiting a progressively practical image of the value circumstance and its effect on individuals. The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade will be the nodal office for the Working Group and will process the report and suggestion of the Group for further important activity. The present arrangement of WPI with 2011-12 as the base year was presented in May 2017. Since 2011-12, critical basic changes have occurred in the economy. Hence, it has turned out to be important to look at the inclusion of wares, weighting outline and related issues relating to the current arrangement of record quantities of Wholesale Price Index. The Terms of Reference of the Working Group incorporate choosing the computational philosophy to be received for month to month WPI and Producer Price Index (PPI) and surveying the current arrangement of value gathering specifically for the assembling division and recommend changes for development.
