First inflation readings under the revised CPI framework comes in at 2.75%, with food inflation at 2.13 percent, as MoSPI expands market coverage & updates consumption weights.
New consumer basket, expanded markets & digital datasets aim to make inflation estimates more representative, says MoSPI Secretary Saurabh Garg. Henceforth, MoSPI aims to revise base yr every 5 yrs.
MoSPI proposes to remove closed factories from IIP sample, aiming for truer picture of India’s industrial health in upcoming 2022–23 base series. Plan open to public feedback until 25 November.
Draft Bill was released for public consultation in September. It aims to bring in sweeping changes to 94-yr-old iconic Indian Statistical Institute by repealing ISI Act, 1959.
New CPI series will take 2024 as base year, will provide more accurate measure of inflation, spending on digital services. Expected to enhance representation and reliability, says Saurabh Garg.
Conservationists and former forest officials say the new accounting inherits the same weaknesses of the India State of Forest Report, which overlooks forest fragmentation.
DMK govt accuses Centre of withholding funds, tightening borrowing, unilateral deductions from state accounts. Says Centre's accounting & funding decisions have 'artificially inflated' debt burden.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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