Economy
Finance ministry asks ministries to move from WPI to PPI in future contracts
What's happening now
The Department of Expenditure under the Ministry of Finance has advised all government ministries to transition from the Wholesale Price Index (WPI) to the Producer Price Index (PPI) for calculating price escalation in future procurement contracts. The Ministry of Commerce and Industry began issuing monthly PPI data for goods and services in June, aiming to phase out WPI over the next five years, aligning with International Monetary Fund (IMF) recommendations.
Source: Economic TimesRead the full story →