CPI Revision Will Make Better Government Policy, Help Businesses, Says MoSPI Secretary

The Secretary of the Ministry of Statistics and Programme Implementation (MoSPI) has stated that the revised Consumer Price Index (CPI) will enhance government policy-making and support businesses by providing a more accurate measure of inflation. This updated CPI series is designed to better reflect the contemporary consumption patterns of Indian households, thereby offering a clearer picture of economic conditions. The changes to the CPI are expected to facilitate more informed decisions by policymakers, aligning economic strategies with the actual experiences of consumers. This revision comes at a time when understanding inflation dynamics is crucial for both economic stability and growth, particularly in a diverse economy like India where consumption patterns can vary significantly across different regions and demographics. By improving the accuracy of inflation measurement, the government aims to create a more conducive environment for business operations and investment, ultimately benefiting the broader economy.