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Kerala PSC Indian Economy Book Study Materials Page 179Book's First Page
n lation and siness le 7.15 Ta le 7.1 Major Group / Group Weight No. of items No. of Quotations 2004–05 2011–12 2004–05 2011–12 2004–05 2011–12 All Commodities 100.00 100.00 676 697 5482 8331 Primary Articles 20.12 22.62 102 117 579 983 Fuel & Power 14.91 13.15 19 16 72 442 Manufactured Products 64.97 64.23 555 564 4831 6906 consumer Price inDex allowance (DA) is announced twice a year. When the Pay Commission recommends pay revisions, Other than the WPI, India also calculates inflation at the consumer level, similar to all the economies the base is the CPI (IW). of the world. As consumers in India show wide 2. CPI-UNME differentiation of their choice of consumption, purchasing powers. etc., a single consumer price The Consumer Price Index for the Urban Non- index (CPI) has not been possible yet which can Manual Employees (CPI-UNME) has 1984–85 encompass all the Indian consumers.42 (first base year was 1958–59) as the base year and Depending upon the socio-economic 146–365 commodities in the basket for which differentiations among consumers, India has four data is collected at 59 centres in the country— differing sets of CPI with some differentials in the data collection frequency is monthly with two basket of commodities allotted to them. Though these weeks time lag.44 four types of CPIs is proposed to be withdrawn in This price index has limited use and it is coming times, data for them are still released. A brief basically used for determining dearness allowances account of the four CPIs are as under: (DAs) of employees of some foreign companies 1. CPI-IW operating in India (i.e., airlines, communications, banking, insurance, embassies and other financial The Consumer Price Index for the industrial services). It is also used under the Income Tax workers (CPI-IW) has 260 items (plus the services) Act to determine capital gains and by the CSO in its basket with 2001 as the base year43 (the first (Central Statistical Organisation) for deflating base year was 1958–59). The data is collected at selected services sector’s contribution to the GDP 76 centres with one month’s frequency and the at factor cost and current prices to calculate the index has a time lag of one month. corresponding figure at constant prices. Since the Basically, this index specifies the government publication of the CPI (U) started the index was employees (other than banks’ and embassies’ discontinued with from January 2011. personnel). The wages/salaries of the central government employees are revised on the basis of 3. CPI-AL the changes occurring in this index, the dearness The Consumer Price Index for Agricultural 42. The economies of the Euro-American region have a Labourers (CPI-AL) has 1986–87 as its base year single CPI as the majority of consumers show the same consumer behaviour (see J.B. Rosser and M.V. Rosser, with 260 commodities in its basket. The data is Comparative Economics in a Transforming World collected in 600 villages with a monthly frequency Economy (Cambridge USA: Prentice Hall, MIT Press, and has three weeks time lag. 2004)). 43. Ministry of Finance, Economic Survey 2006–07, p. 90. 44. Ministry of Finance, Economic Survey 2001–02, p. 90.