Delay in Publishing Consumer Price Index for Industrial Workers (CPI-IW) Unusual: CITU
- May 23, 2024
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Delay in Publishing Consumer Price Index for Industrial Workers (CPI-IW) Unusual: CITU
Sub: Economy
Sec: Inflation
Key Points:
- CITU’s Concern:
- The Centre of Indian Trade Unions (CITU) has raised concerns over the delay in releasing the All India Consumer Price Index for Industrial Workers (AICPI-IW) for February and March.
- Importance of AICPI-IW:
- AICPI-IW is crucial for regulating wages and dearness allowance for millions of workers and employees in India and compiled by the Labour Bureau.
- It is also used for measuring inflation and informing other policy formulations.
- Scheduled Release Dates:
- According to norms, the index for February was due on March 28, and the index for March was expected on April 30.
- The index for April is expected to be released on May 31.
Conclusion:
The CITU has highlighted the critical importance of the All India Consumer Price Index for Industrial Workers (AICPI-IW) and expressed concern over the unusual delay in its release for February and March.
Given the index’s role in wage regulation and inflation measurement, the CITU urges the Labour Ministry to adhere to the scheduled release dates to maintain transparency and reliability in economic indicators essential for workers and policy formulations.
What is AICPI-IW?
- AICPI-IW stands for All India Consumer Price Index for Industrial Workers.
- It is a measure of the cost of living for industrial workers in India.
- Compiled by the Labour Bureau under the Ministry of Labour and Employment.
Importance of AICPI-IW
- Wage Regulation: Used for the regulation of wages and dearness allowance for millions of workers and employees in the country.
- Inflation Measurement: Serves as an important metric for measuring inflation.
- Policy Formulation: Influences policy decisions related to labor, wages, and inflation.
Compilation and Release
- The Labour Bureau compiles the AICPI-IW based on the price changes of various goods and services consumed by industrial workers.
- Frequency: The index is usually released monthly.