<h1>India Forms Working Group to Update Wholesale Price Index Base Year to 2022-23, Improve Price Collection & Methodologies.</h1> The Government of India has established a Working Group to revise the Wholesale Price Index (WPI) base year from 2011-12 to 2022-23. The group includes members from various government divisions, economists, and representatives from financial institutions. Their mandate includes suggesting a new commodity basket for WPI and Producer Price Index (PPI), reviewing price collection systems, and recommending computational methodologies. They will also explore improvements for transitioning from WPI to PPI and propose enhancements for the reliability of these indices. The group is tasked with submitting its final report within 18 months.