The base year for wholesale price index (WPI) and Index of Industrial Production (IIP) may soon be changed to 2011-12 from the current 2004-05, a top government official said on Monday.
The base year of WPI and IIP is likely to be revised to 2011-12, Central Statistical Organisation (CSO) Director General G.C. Manna said here at the inauguration of two-day national review workshop on Support for Statistical Strengthening (SSS) Scheme and compilation of Consumer Price Index (CPI).
There will be a meeting of a small group on March 14, including secretaries of statistics and industries and the Cabinet Secretary, on the issue, he said.
The change in base year is expected to bring more accuracy in the CPI and IIP data.
--IANS
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