Govt to replace WPI with Producer Price Index for future procurement contracts
· economictimes.indiatimes.com
In a bid to modernize inflation measurement, the government is set to replace the Wholesale Price Index with the Producer Price Index for future government contracts and price changes. This initiative seeks to align India's procurement processes with global inflation metrics. Ministries are urged to integrate the Producer Price Index into their new contracts, marking a crucial evolution in how India evaluates inflation.
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