🔥 Revision of WPI Base Year Explained | Why Base Year Matters? | UPSC Current Affairs 2027

📊 Why is the Government revising the base year of the Wholesale Price Index (WPI)?

The Wholesale Price Index (WPI) measures changes in prices at the wholesale level and is an important indicator of inflation in India.

📌 Current WPI Base Year: 2011-12

📌 Why revise the base year?
✅ To reflect the current structure of the economy
✅ To include new products and emerging industries
✅ To remove obsolete items from the basket
✅ To improve the accuracy of inflation measurement
✅ To align with changing production and consumption patterns

📌 Significance for India:
• Better policy formulation by RBI and Government
• More reliable inflation estimates
• Improved economic data quality
• Reflects India’s evolving economy

This topic is important for UPSC Prelims, GS-III (Economy), and current affairs.

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