Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

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        LATEST NEWS UPDATES | Chaudhuri committee on WPI facing difficulties with Producer Price Index-Nayanima Basu &amp; Sanjeeb Mukherjee    </title>
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-The Business Standard



Deadline extended by three months to March 31 for submitting report


After a push from the Prime Minister's Office (PMO), a committee headed by Planning Commission member Saumitra Chaudhuri seems to be giving its full attention in moving towards..."/>
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    <h1 class="cat-box-title">Chaudhuri committee on WPI facing difficulties with Producer Price Index-Nayanima Basu &amp; Sanjeeb Mukherjee</h1>
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		 Published on</span><span class="text-date"> Dec 27, 2013</span>
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                            <div align="justify">-The Business Standard</div><p align="justify"><br /><em>Deadline extended by three months to March 31 for submitting report</em></p><p align="justify">After a push from the Prime Minister's Office (PMO), a committee headed by Planning Commission member Saumitra Chaudhuri seems to be giving its full attention in moving towards Producers Price Index (PPI) that will give accurate calculation of movement  of inflation. To help  the panel finish its task, the government has extended its deadline  by three months till March 31, 2014 to submit its report.   </p><p align="justify">The committee was supposed to submit its report by December 31. However, it got  delayed because &quot;internal deliberations are not complete&quot;. It seems that it has received a major push from the Prime Minister's Office (PMO) to &quot;study the feasibility of bringing out PPI&quot; after the government faced sharp criticism for rise in the prices of essential commodities that was blamed for rout  of the Congress in the recent elections to four state  assemblies, a senior official involved in the process told Business Standard. The government believes that the current wholesale price index does not give correct picture and PPI is expected to give a better idea  of price movements. The committee is also looking at revamping WPI itself.</p><p align="justify">The official added that the government is concerned that the committee has not been able to garner any consensus yet on the new index.</p><p align="justify">On the other hand, another official, who is part of the Committee, said that the panel is finding it difficult to calculate a correct measure of PPI as there is not enough information on producer prices.</p><p align="justify">&quot;In India it is very difficult to estimate how much a producer gets for his produce as there are a lot of intermediaries in between,&quot; the official remarked.</p><p align="justify">PPI is a measure of change over time in the selling price of  output for producers. It is usually the first commercial transaction in goods and services produced which gives an idea of margins on different products and incidence of taxes. It indicates the cost pressures in an economy. Since it measures value addition in prices, input prices have to be deducted to arrive at PPI. Most countries have PPI instead of WPI. The US switched to the PPI model in 1978.</p><p align="justify">The Saumitra Chaudhuri committee is also likely to recommended a larger number of items in the new wholesale price index which will have a new base year of 2009-10 against the present 2004-05. The product line of basket for the new WPI will largely be similar at least for manufacturing sector, an official said.  </p><p align="justify">Apparently, in its report, the committee is expected to suggest that the index should have adequate format for automatic up-gradation to 2011-12 base year as soon as new inputs come.</p><p align="justify">The government had constituted a high-powered panel under the chairmanship of Planning Commission in April last year following strong criticism over the manner in which WPI was being calculated. The committee's tenure was originally to end on December, 2012.</p><p align="justify">The committee was advised to take into account structural changes in the economy since 2004-05 to present a better picture of price situation.</p><p align="justify">There were reports of error in the updated series. Economists as well as RBI have been critical of the WPI data. The new series of the WPI, the government's main tool for monitoring the priceline, was launched in September 2010 to give a more accurate picture of inflation.</p><p align="justify">The new WPI, with 2004-05 base, comprised 676 items as against 435 items in the old index. The number of price quotations for the new series was 5,482 as against 1,918 in the old series</p><p align="justify">The committee will also suggest ways to ensure smooth flow of data and also to look into the possibility of having a single agency for collecting data for WPI and index of industrial production (IIP).</p>                                                           
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    <br><a href="http://www.business-standard.com/article/economy-policy/chaudhuri-committee-on-wpi-facing-difficulties-with-producer-price-index-113122700822_1.html" class="re" target="_blank">The Business Standard, 27 December, 2013, http://www.business-standard.com/article/economy-policy/chaudhuri-committee-on-wpi-facing-difficulties-with-producer-price-index-113122700822_1.html</a><div class="clear"></div>
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    <h1 class="cat-box-title">Chaudhuri committee on WPI facing difficulties with Producer Price Index-Nayanima Basu &amp; Sanjeeb Mukherjee</h1>
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                            <div align="justify">-The Business Standard</div><p align="justify"><br /><em>Deadline extended by three months to March 31 for submitting report</em></p><p align="justify">After a push from the Prime Minister's Office (PMO), a committee headed by Planning Commission member Saumitra Chaudhuri seems to be giving its full attention in moving towards Producers Price Index (PPI) that will give accurate calculation of movement  of inflation. To help  the panel finish its task, the government has extended its deadline  by three months till March 31, 2014 to submit its report.   </p><p align="justify">The committee was supposed to submit its report by December 31. However, it got  delayed because &quot;internal deliberations are not complete&quot;. It seems that it has received a major push from the Prime Minister's Office (PMO) to &quot;study the feasibility of bringing out PPI&quot; after the government faced sharp criticism for rise in the prices of essential commodities that was blamed for rout  of the Congress in the recent elections to four state  assemblies, a senior official involved in the process told Business Standard. The government believes that the current wholesale price index does not give correct picture and PPI is expected to give a better idea  of price movements. The committee is also looking at revamping WPI itself.</p><p align="justify">The official added that the government is concerned that the committee has not been able to garner any consensus yet on the new index.</p><p align="justify">On the other hand, another official, who is part of the Committee, said that the panel is finding it difficult to calculate a correct measure of PPI as there is not enough information on producer prices.</p><p align="justify">&quot;In India it is very difficult to estimate how much a producer gets for his produce as there are a lot of intermediaries in between,&quot; the official remarked.</p><p align="justify">PPI is a measure of change over time in the selling price of  output for producers. It is usually the first commercial transaction in goods and services produced which gives an idea of margins on different products and incidence of taxes. It indicates the cost pressures in an economy. Since it measures value addition in prices, input prices have to be deducted to arrive at PPI. Most countries have PPI instead of WPI. The US switched to the PPI model in 1978.</p><p align="justify">The Saumitra Chaudhuri committee is also likely to recommended a larger number of items in the new wholesale price index which will have a new base year of 2009-10 against the present 2004-05. The product line of basket for the new WPI will largely be similar at least for manufacturing sector, an official said.  </p><p align="justify">Apparently, in its report, the committee is expected to suggest that the index should have adequate format for automatic up-gradation to 2011-12 base year as soon as new inputs come.</p><p align="justify">The government had constituted a high-powered panel under the chairmanship of Planning Commission in April last year following strong criticism over the manner in which WPI was being calculated. The committee's tenure was originally to end on December, 2012.</p><p align="justify">The committee was advised to take into account structural changes in the economy since 2004-05 to present a better picture of price situation.</p><p align="justify">There were reports of error in the updated series. Economists as well as RBI have been critical of the WPI data. The new series of the WPI, the government's main tool for monitoring the priceline, was launched in September 2010 to give a more accurate picture of inflation.</p><p align="justify">The new WPI, with 2004-05 base, comprised 676 items as against 435 items in the old index. The number of price quotations for the new series was 5,482 as against 1,918 in the old series</p><p align="justify">The committee will also suggest ways to ensure smooth flow of data and also to look into the possibility of having a single agency for collecting data for WPI and index of industrial production (IIP).</p>                                                           
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                            <div align="justify">-The Business Standard</div><p align="justify"><br /><em>Deadline extended by three months to March 31 for submitting report</em></p><p align="justify">After a push from the Prime Minister's Office (PMO), a committee headed by Planning Commission member Saumitra Chaudhuri seems to be giving its full attention in moving towards Producers Price Index (PPI) that will give accurate calculation of movement  of inflation. To help  the panel finish its task, the government has extended its deadline  by three months till March 31, 2014 to submit its report.   </p><p align="justify">The committee was supposed to submit its report by December 31. However, it got  delayed because &quot;internal deliberations are not complete&quot;. It seems that it has received a major push from the Prime Minister's Office (PMO) to &quot;study the feasibility of bringing out PPI&quot; after the government faced sharp criticism for rise in the prices of essential commodities that was blamed for rout  of the Congress in the recent elections to four state  assemblies, a senior official involved in the process told Business Standard. The government believes that the current wholesale price index does not give correct picture and PPI is expected to give a better idea  of price movements. The committee is also looking at revamping WPI itself.</p><p align="justify">The official added that the government is concerned that the committee has not been able to garner any consensus yet on the new index.</p><p align="justify">On the other hand, another official, who is part of the Committee, said that the panel is finding it difficult to calculate a correct measure of PPI as there is not enough information on producer prices.</p><p align="justify">&quot;In India it is very difficult to estimate how much a producer gets for his produce as there are a lot of intermediaries in between,&quot; the official remarked.</p><p align="justify">PPI is a measure of change over time in the selling price of  output for producers. It is usually the first commercial transaction in goods and services produced which gives an idea of margins on different products and incidence of taxes. It indicates the cost pressures in an economy. Since it measures value addition in prices, input prices have to be deducted to arrive at PPI. Most countries have PPI instead of WPI. The US switched to the PPI model in 1978.</p><p align="justify">The Saumitra Chaudhuri committee is also likely to recommended a larger number of items in the new wholesale price index which will have a new base year of 2009-10 against the present 2004-05. The product line of basket for the new WPI will largely be similar at least for manufacturing sector, an official said.  </p><p align="justify">Apparently, in its report, the committee is expected to suggest that the index should have adequate format for automatic up-gradation to 2011-12 base year as soon as new inputs come.</p><p align="justify">The government had constituted a high-powered panel under the chairmanship of Planning Commission in April last year following strong criticism over the manner in which WPI was being calculated. The committee's tenure was originally to end on December, 2012.</p><p align="justify">The committee was advised to take into account structural changes in the economy since 2004-05 to present a better picture of price situation.</p><p align="justify">There were reports of error in the updated series. Economists as well as RBI have been critical of the WPI data. The new series of the WPI, the government's main tool for monitoring the priceline, was launched in September 2010 to give a more accurate picture of inflation.</p><p align="justify">The new WPI, with 2004-05 base, comprised 676 items as against 435 items in the old index. The number of price quotations for the new series was 5,482 as against 1,918 in the old series</p><p align="justify">The committee will also suggest ways to ensure smooth flow of data and also to look into the possibility of having a single agency for collecting data for WPI and index of industrial production (IIP).</p>                                                           
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Chaudhuri committee on WPI facing difficulties with Producer Price Index-Nayanima Basu & Sanjeeb Mukherjee

Published on Dec 27, 2013   Modified on Dec 27, 2013

-The Business Standard Deadline extended by three months to March 31 for submitting report After a push from the Prime Minister's Office (PMO), a committee headed by Planning Commission member Saumitra Chaudhuri seems to be giving its full attention in moving towards Producers Price Index (PPI) that will give accurate calculation of movement of inflation. To help the panel finish its task, the government has extended its deadline by three months till March 31, 2014 to submit its report. The committee was supposed to submit its report by December 31. However, it got delayed because "internal deliberations are not complete". It seems that it has received a major push from the Prime Minister's Office (PMO) to "study the feasibility of bringing out PPI" after the government faced sharp criticism for rise in the prices of essential commodities that was blamed for rout of the Congress in the recent elections to four state assemblies, a senior official involved in the process told Business Standard. The government believes that the current wholesale price index does not give correct picture and PPI is expected to give a better idea of price movements. The committee is also looking at revamping WPI itself. The official added that the government is concerned that the committee has not been able to garner any consensus yet on the new index. On the other hand, another official, who is part of the Committee, said that the panel is finding it difficult to calculate a correct measure of PPI as there is not enough information on producer prices. "In India it is very difficult to estimate how much a producer gets for his produce as there are a lot of intermediaries in between," the official remarked. PPI is a measure of change over time in the selling price of output for producers. It is usually the first commercial transaction in goods and services produced which gives an idea of margins on different products and incidence of taxes. It indicates the cost pressures in an economy. Since it measures value addition in prices, input prices have to be deducted to arrive at PPI. Most countries have PPI instead of WPI. The US switched to the PPI model in 1978. The Saumitra Chaudhuri committee is also likely to recommended a larger number of items in the new wholesale price index which will have a new base year of 2009-10 against the present 2004-05. The product line of basket for the new WPI will largely be similar at least for manufacturing sector, an official said. Apparently, in its report, the committee is expected to suggest that the index should have adequate format for automatic up-gradation to 2011-12 base year as soon as new inputs come. The government had constituted a high-powered panel under the chairmanship of Planning Commission in April last year following strong criticism over the manner in which WPI was being calculated. The committee's tenure was originally to end on December, 2012. The committee was advised to take into account structural changes in the economy since 2004-05 to present a better picture of price situation. There were reports of error in the updated series. Economists as well as RBI have been critical of the WPI data. The new series of the WPI, the government's main tool for monitoring the priceline, was launched in September 2010 to give a more accurate picture of inflation. The new WPI, with 2004-05 base, comprised 676 items as against 435 items in the old index. The number of price quotations for the new series was 5,482 as against 1,918 in the old series The committee will also suggest ways to ensure smooth flow of data and also to look into the possibility of having a single agency for collecting data for WPI and index of industrial production (IIP).

The Business Standard, 27 December, 2013, http://www.business-standard.com/article/economy-policy/chaudhuri-committee-on-wpi-facing-difficulties-with-producer-price-index-113122700822_1.html

Tagged with: Wholesale Price Index (WPI) Producer Price Index (PPI) Producer Price Index Inflation price rise WPI food prices

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