{"id":322137,"date":"2025-01-04T09:58:49","date_gmt":"2025-01-04T04:28:49","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=322137"},"modified":"2025-01-06T12:09:38","modified_gmt":"2025-01-06T06:39:38","slug":"ramesh-chand-panel","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/ramesh-chand-panel\/","title":{"rendered":"Ramesh Chand Panel"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" wp-image-322345 aligncenter\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/01\/Ramesh-Chand-Panel.png?resize=725%2C483&#038;ssl=1\" alt=\"Ramesh Chand Panel\" width=\"725\" height=\"483\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/01\/Ramesh-Chand-Panel.png?resize=300%2C200&amp;ssl=1 300w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/01\/Ramesh-Chand-Panel.png?resize=1024%2C682&amp;ssl=1 1024w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/01\/Ramesh-Chand-Panel.png?resize=768%2C512&amp;ssl=1 768w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/01\/Ramesh-Chand-Panel.png?w=1280&amp;ssl=1 1280w\" sizes=\"auto, (max-width: 725px) 100vw, 725px\" \/><\/p>\n<p><strong>News: <\/strong>The government recently formed an 18-member panel, led by NITI Aayog&#8217;s Ramesh Chand, to revise the Wholesale Price Index (WPI) base year and plan a shift to the Producer Price Index (PPI). <strong>Ramesh Chand Panel<\/strong><\/p>\n<h2>About Ramesh Chand Panel<\/h2>\n<ul>\n<li>The panel was set up to update the base year of the Wholesale Price Index (WPI) from <span style=\"color: #ff0000;\">2011-12<\/span> to <span style=\"color: #ff0000;\">2022-23<\/span>.<\/li>\n<li>Its key responsibilities include:\n<ul>\n<li>Proposing a <span style=\"color: #ff0000;\">revised commodity basket<\/span> for both the WPI and Producer Price Index (PPI) based on the 2022-23 base year.<\/li>\n<li>Reviewing the existing price collection system and suggesting enhancements.<\/li>\n<li>Determining the <span style=\"color: #ff0000;\">computational methodology for the WPI<\/span> and <span style=\"color: #ff0000;\">PPI<\/span>.<\/li>\n<\/ul>\n<\/li>\n<li>The panel comprises economists from the government, rating agencies, asset management firms, banks, and representatives from the government and the Reserve Bank of India.<\/li>\n<\/ul>\n<h2>About Wholesale Price Index (WPI)<\/h2>\n<ul>\n<li><strong>Released by<\/strong>: The Office of Economic Advisor, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry<\/li>\n<li>WPI measures changes in the prices of goods sold and traded in bulk at the wholesale level.<\/li>\n<li>It doesn&#8217;t reflect inflation for the common public, as they purchase products at retail, not wholesale prices.<\/li>\n<li>WPI <span style=\"color: #ff0000;\">excludes the service sector<\/span>, which covers about 55% of GDP.<\/li>\n<li><strong>Base Year<\/strong>: Currently 2011-12, being revised to 2022-23.<\/li>\n<li><strong>Number of Items<\/strong>: Covers 697 items, including 117 primary goods, 16 fuel and power items, and 564 manufactured products.<\/li>\n<\/ul>\n<h2>About Producer Price Index (PPI)<\/h2>\n<ul>\n<li>PPI measures wholesale prices from the point of view of producers of goods and services by tracking prices at different stages of production.<\/li>\n<li>PPI differs from WPI as it tracks the average change in prices received by producers and <span style=\"color: #ff0000;\">excludes indirect taxes.<\/span><\/li>\n<li>It focuses on inflation from the perspective of industries and businesses, measuring price changes at production stages before final goods and services reach consumers.<\/li>\n<li>Unlike WPI, which only includes goods,<span style=\"color: #ff0000;\"> PPI also covers services<\/span>.<\/li>\n<li>PPI has <span style=\"color: #ff0000;\">replaced WPI in most countries<\/span> as it aligns with the internationally accepted System of National Accounts (SNA) for measuring economic activity.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: The government recently formed an 18-member panel, led by NITI Aayog&#8217;s Ramesh Chand, to revise the Wholesale Price Index (WPI) base year and plan a shift to the Producer Price Index (PPI). Ramesh Chand Panel About Ramesh Chand Panel The panel was set up to update the base year of the Wholesale Price Index&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/ramesh-chand-panel\/\">Continue reading <span class=\"screen-reader-text\">Ramesh Chand Panel<\/span><\/a><\/p>\n","protected":false},"author":10367,"featured_media":322345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,12039],"tags":[11872],"class_list":["post-322137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-factly-articles","category-economy","category-knolls","tag-9pm-daily-factly","entry"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2025\/01\/Ramesh-Chand-Panel.png?fit=1280%2C853&ssl=1","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/322137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10367"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=322137"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/322137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/322345"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=322137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=322137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=322137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}