The Union government on Thursday revised the base year for computing Consumer Price Index (Industrial Workers) CPI-IW from the present 2001 to 2016 after a gap of 15 years.
The CPI-IW is used as a benchmark for calculating dearness allowance for government employees, dearness relief for pensioners and wages for industrial workers in some sectors. Though it may not impact the salary of industrial workers and DA of government staff immediately, it will have a cascading impact on salary, DA and DR of workers, and pensioners.
The All India index for the month of September 2020 stands at the level of 118 and linking factor for the conversion of new series index to previous series on base 2001=100 is 2.88.
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