Aartee Mishra is teaching live on Unacademy Plus
aily Lecture Series Ramesh Singh's) A brief Summary of Indian Economv Inflation and Business Cycle-D indi unacadeny By Aartee Mishra
lam Aartee Mishra Graduated from Delhi University, Topper in all my semesters, Pursuing P.G and preparing for CSE. 2 Years of teaching experience of General Studies for competitive examination Have been teaching on Unacademy Plus
Comprehensive course of Art and Culture with Brief Indian History Comprehensively cover entire Art and Culture with Brief History Aartee Mishra of India Elaborately explain topics 24 detailed lessons covering all the essential topics related to History UPSC Civil Services Prelims and Mains Examination otho Art and Culture with Brief History from NCERT books Medieval History, Art & Culture from Tamil Nadu History book Course Starting from 18h June, ruam-12pm on At the end of the program adept and able to solve the exam Unacademy Plus based test papers
INFLATION IN INDIA India calculates its inflation on two price indices, i.e, the wholesale price index (WPI) and the consumer price index (CPI). While the WPI-inflation is used at the macro-level policymaking, the CPI-inflation is used for micro- level analyses The inflation at the WPI is the inflation of the economy. Both the indices follow the point-to-point, method and may be shown in points (ie, digit) as well as in percentage relative to a particular base year
Wholesale Price Index (WPI) and Vs Consumer Price Index (CPI) BASIS FOR WHOLESALE PRICE CONSUMER PRICE COMPARISON INDEX (WPI) INDEX (CPI) Wholesale Price Index Co (WPI), amounts to the(CPI), indicates the average change in prices average change in the of commodities at wholesale level. Office of Economic Advisor Meaning nsumer Price Index prices of commodities, at retail level Central Statistics Office Published by Measurement of First stage of transaction Final stage of transaction Inflation Covers Focuses on Goods and Services Goods only Prices of goods traded Prices of goods between business houses. purchased by consumers.
Definition of Wholesale Price Index (WPI) WPI expands to Wholesale Price Index, can be defined as the commonly used price index which measures the price changes of the goods for voluminous sale, i.e. at the initial stage of the transaction, when the goods are bought by one corporation from another for reselling it It is recommended by Abhijeet Sen Committee and used to track the price trends that shows the current supply and demand in the industry. The items in WPl are classified into three main groups: Primary Articles, Fuel & Power and, Manufactured Products. It does not take into account the services provided. Further, to compile WPl, the prices used are gathered as under: For manufactured goods - Ex-factory level .For mineral Products - Ex-mine level For agricultural Products - Mandi level
Definition of Consumer Price Index (CPI) Consumer Price Index, shortly called as CPI is an economic barometer, used to gauge the sum of money which a consumer of a specific region or class, has to pay to afford a basket of commodities with a view to consume it, at a definite period, as compared to the price paid by the consumer for similar commodities in the base year. >The fixed basket of commodities, relies on the necessary expenditure of the population under consideration, in a stipulated period. The changes in general price level, influence the buying power of the consumers. The prices used to compile CPl are collected from different markets. At the start, CPI was used to calculate the changes in the cost of ing of the working class, in order to compensate their wages to the changing price level. Later, it is used as an indicator of inflation.
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