The Government of India has decided to constitute a Working Group for base revision of the current series of Wholesale Price Index (WPI) from base 2011-12 to 2022-23. The composition of the Working Group is as follows:

1.	Prof. Ramesh Chand, Member, NITI Aayog	Chairman
2.	Additional Director General, Field Operations Division, Ministry of Statistics & P.I.	Member
3.	Deputy Director General, Economic Statistics Division, Ministry of Statistics & P.I.	Member
4.	Deputy Director General, National Accounts Division,  Ministry of Statistics & P.I.	Member
5.	Deputy Director General, Enterprise Survey Division, Ministry of Statistics & P.I.	Member
6.	Economic Adviser, Department of Economic Affairs,	Member
7.	Adviser, Price & Marketing Division, Department of Agriculture & Farmers Welfare	Member
8.	Senior Economic Adviser, Department of Consumer Affairs	Member
9.	Deputy Director General, Ministry of Petroleum & Natural Gas	Member
10.	Chief Executive Officer, Goods & Services Tax Network	Member
11.	Representative from RBI	Member
12.	Dr Soumya Kanti Ghosh, Chief Economist, SBI Group	Member
13.	Dr Surjit Bhalla, Economist	Member (Non official)
14.	Dr Shamika Ravi, Member, Economic Advisory Council to PM	Member (Non Official)
15.	Dr Dharmakirti Joshi, Chief Economist, Crisil	Member (Non Official)
16.	Shri Nilesh Shah, MD, Kotak Mahindra Asset Management	Member (Non Official)
17.	Shri Indranil Sengupta, Co-Head & Economist, Bank of America Merrill Lynch	Member (Non Official)
18.	Deputy Director General, DPIIT (Member Secretary)	Member

The Terms of Reference of the Working Group will be as follows: -

1. To suggest the commodity basket of WPI and PPI with base year 2022-23 in the light of structural changes in the economy.
2. To review the existing system of price collection and suggest changes for improvement.
3. To decide on the computational methodology to be adopted for WPI / PPI.
4. To examine the methodology for compilation of PPI approved by Technical Advisory Committee on Statistics of Prices & Cost of Living and suggest further improvement in compilation and presentation and recommend roadmap for switch over from WPI to PPI.

5. To examine the method of computing the linking factor adopted so far and suggest  appropriate changes in the method of computing the linking factor, if necessary.
6. To suggest any other improvements as may be necessary for enhancing the reliability of WPI / PPI.

The Chairman of the Working Group may co-opt experts/ representatives of other agencies, as may be considered necessary.

The Working Group has been asked to submit its final report to the Office of the Economic Adviser within 18 months of issue of this notification.

Wholesale Price Index revision underway: Working Group to recommend updated commodity basket, collection methods and PPI transition. A Government Working Group has been constituted, chaired by a senior NITI Aayog member with officials, central bank and non official economists, to revise the Wholesale Price Index base and related methodologies. Its Terms of Reference direct it to propose an updated commodity basket for WPI and PPI, review price collection systems, determine computational methodology, examine PPI compilation and transition roadmap from WPI to PPI, reassess linking factor computation, and recommend measures to enhance index reliability; the Chair may co opt experts and must submit a final report to the Office of the Economic Adviser within the notified timeframe.