Archive · 15 Aug 2025
India to Update Economic Indices to Modernize Economy Tracking
Imagine India's economy is like a big company, and the government uses different tools to understand how it's doing.
These tools are like reports that measure prices and how much stuff is being made.
The government is updating these reports!
They're making a new one called the Producer Price Index, and updating the old ones, like the Wholesale Price Index and Index of Industrial Production.
This means they're making sure the reports are up-to-date with how the economy works today.
People will start collecting the information in August and will use information starting from April 2022.
This helps India's economy to be tracked in a more precise manner.
The Indian government is updating its economic indices.
The updates include a new Producer Price Index (PPI) and revisions to the Wholesale Price Index (WPI) and Index of Industrial Production (IIP).
The base year for IIP will be updated to 2022-23, reflecting current industrial activity.
The survey will start in August, with data collected from April 2022.
The updates aim to align with international statistical standards.
- Who
- The Ministry of Commerce and Industry and National Statistical Office are involved.
- What
- The government is updating economic indices, including the WPI, IIP, and introducing a PPI.
- When
- The exercise will start in August, with data compiled from April 2022.
- Where
- Nationwide across all states and union territories.
- Why
- To make inflation and industrial output measures more representative and align with international standards.
- Initiative
- Updating Economic Indices
- Indices being Updated
- WPI, IIP, and introducing PPI
- IIP Base Year
- 2022-23
- Survey Start
- August
- Data Collection Start
- April 2022
- Responsible Ministry
- Ministry of Commerce and Industry