Will a different time zone be beneficial for the north-eastern states?
India is essentially a tropical country with at max 2 hours difference. Not too sure if it would be practical to implement DST for NE states.
Well, A study done by Bengaluru based National Institute of Advanced Studies said that a separate time zone for the northeastern region could help in saving 2.7 billion units of electricity every year. There is merit in having DST for NE states. Countries elsewhere also operate with multiple timezones.
@upsc2020 Hi, I don’t know RBI definition, but this is what the term generally means :) Yes, you are right RPI like CPI is based on a set basket of goods. But the difference between 2 arises when you define what that set of basket of goods comprises of.Here is a more clear explanation:https://www.investopedia.com/terms/r/rpi.asp
That article which you mentioned, says that CPI measures the retail inflation. However, the article mentions the term ‘retail’ because it’s most widely used term when we define CPI. In other words, WPI measures wholesale goods and CPI measures retail inflation. That is because WPI and CPI are most widely used indexes.
However, RPI and CPI are only different when it comes to what ‘basket of goods’ consist of. CPI doesn’t include cost of housing (cost of housing is different from housing as it consists of mortgage and interest rates) while RPI does. :)
PS:
I read the OPs question again,
CPI measures retail inflation. Retail inflation and CPI are used interchangeably. However, RPI and CPI are not. :)
Thank you...Very well explained
