Separate
inflation indicators for India's rural, urban
Monday February 07, 2011 05:50:09 PM,
IANS
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Related Article |
Indian
economy to expand 8.6 percent this fiscal
The Indian economy is expected to grow
8.6 percent this fiscal against 8 percent in the previous year,
led by 11 percent growth in services, 5.4 percent in agriculture
and 8.8 percent in factory output, the country's chief
statistician said Monday
» |
New Delhi: India will
come up with separate barometers of inflation for rural and urban
areas, from Feb 18, to help monitor price movement in different
parts of the country, a senior official said Monday
"There will be separate series of a consumer price index (CPI) for
rural, urban and combined, (rural plus urban)," Chief Statistician
of India T.C.A. Anant told reporters here.
The fist series of the new indices will be released Feb 18 this
year. These indices will be available for five major groups namely
food, beverages and tobacco, fuel and light, housing, clothing,
bedding and footwear and miscellaneous.
"Present CPI numbers do not encompass all the segments of the
population the country and as such they do not reflect the true
picture of the price behaviour. It is therefore necessary to
compile a CPI which takes into account the consumption patterns of
all segment of the population," said a statement from the
statistics and programme implementation ministry.
The new series will be based on 2010 price level.
For the new CPI on urban areas, 310 towns have been selected,
which include capitals of all states and union territories.
To monitor the price movement in rural areas, the government's
chief statistics office has selected 1,181 villages. "The broad
criterion of selection of villages is to have representation of
all the districts within state/union territories and two villages
from each district have been selected randomly from different
tehsils."
The Central Statistical Organisation will also compile a national
CPI by merging rural and urban indices with appropriate
weightagess.
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