EconomicAnalysis Archives

Understanding Overview of Economic Survey | UPSC

Introduction Finance Minister Nirmala Sitharaman presented the Economic Survey in Parliament, offering a detailed analysis of India’s economic performance and providing recommendations for future policies. The Economic Survey is an annual document presented by the Government of India’s Ministry of Finance. It is typically released a day before the Union Budget. It provides a comprehensive […]

Wholesale Price Index (WPI) Vs Consumer Price Index (CPI): Composition, Methodology, and Uses

Ritesh Pandit / Mains Articles / May 28, 2024

Introduction: The government is considering changing the base year for key economic indices to FY23 and revamping several datasets to better reflect structural changes in the economy. Currently, measures such as the Index of Industrial Production (IIP), Wholesale Price Index (WPI), and National Income are benchmarked to FY12, with the previous base year being FY05.

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