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Which ministry has started the exercise to revise base year to 2017 - 2018 for computation of wholesale inflation?

Correct Answer: Ministry of Commerce and Industry

Explanation:

The India's commerce and industry ministry has started the exercise to revise base year to 2017-18 for computation of wholesale inflation with a view to present more realistic picture of the price situation


 


In May last year, the government revised the base year for WPI-based inflation to 2011-12 to give a better indication of changes in prices of commodities.


 


The new index, with 2017-18, is expected to have new items, which would provide a more realistic picture of price rise and its impact on people.


 


Most of the additions could be in the manufactured products category. Currently, the index has a total of 697 items, including primary articles, fuel and power and manufactured products.


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