Consultations on to revise WPI base year to 2017-18: DPIIT

NEW DELHI: Inter-ministerial consultations are progressing on revising the Wholesale Price Index (WPI) base year from 2011-12 to 2017-18, a top official has said.

Revising base year to 2017-18 for computation of wholesale inflation would help in presenting a more realistic picture of the price situation in the country.

The Department for Promotion of Industry and Internal Trade (DPIIT) in June last year issued a draft technical report of a working group, which suggests revising the base year of wholesale price index and addition of about 480 new items such as medicinal plants, pen drive, lifts, gymnasium equipment and certain motorcycle engines in the new series.

”The working group submitted its report in June. ...Now inter-ministerial consultation is in progress,” said DPIIT secretary Anurag Jain.