Q. What is the proposed new base year for India's Wholesale Price Index (WPI)?
Answer: 2022-23
Notes: The government has initiated a review of the Wholesale Price Index (WPI) to update its base year from 2011-12 to 2022-23. This change aims to reflect structural economic changes and enhance the accuracy of inflation measurement and GDP calculations. The 18-member committee, led by NITI Aayog member Ramesh Chand, will also explore transitioning to a Producer Price Index (PPI) to include services, which constitute over half of India's economic output, thus aligning with international practices.

This Question is Also Available in:

मराठीಕನ್ನಡहिन्दी

This question is part of Current Affairs Daily 20 MCQs Series Course on GKToday Android app.