Mains Answer Writing - 3 Jun, 2026

GS3

Economy

15 marks

The Government of India has revised the base year of the Wholesale Price Index (WPI) from 2011–12 to 2022–23 and expanded its coverage to include emerging sectors such as renewable energy. Discuss the significance of revising the base year of price indices. How can an updated WPI improve economic policymaking and inflation measurement in India?

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Tips for your answer

Introduction: Define WPI and mention the recent revision of the base year from 2011–12 to 2022–23.
- Why is Base Year Revision Needed?
- Significance for Economy
- Challenges/Concerns
Conclusion: Regular revision of price indices is essential for evidence-based policymaking and maintaining the relevance of economic statistics in a rapidly changing economy.

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