AICPIN – Introduction of New Series of Consumer Price Index for IW
Consumer Price Index Numbers for Industrial Workers
Consumer Price Index Numbers for Industrial Workers on base 2001=100 are being compiled and maintained by Labour Bureau, Ministry of Labour & Employment in respect of All-India and 78 constituent centres. The All-India Index for CPI-IW is a weighted average index of centres’ indices. These indices are compiled on monthly basis and are released on the last working day of the succeeding month. Consumer Price Index Numbers for Agricultural and Rural Labourers.
The consumer price index for industrial workers is the most important factor for calculating the dearness allowance to Central staff. The Central Government has now decided to introduce the new series of CPI and set up a standing Tripartite Committee to advise on this issue. The below information was given by the Minister of Labour and Employment in Parliament on 12.8.2013.
“Ministry of Labour and Employment, Government of India has decided to prepare a new series of Consumer Price Index for Industrial Workers. For this purpose, Government has set up a Standing Tripartite Committee (STC) to advise the Government on issues pertaining to the Consumer Price Index for Industrial Workers (New Series). The STC will go into details of various parameters that are taken into consideration for updation of the base year such as the weighting diagram, consumption basket, selection of centres, sample size of establishments for price collection etc.”