Change of Base Year of Consumer Price Index of Industrial Workers: Railway Board Order
भारत सरकार Government of India
रेल मंत्रालय Ministry of Railways
(रेलवे बोर्ड) (Railway Board)
No. 2021/CE-I/EDCE(G)/Misc./3/LabourIndex
New Delhi, Dated 06.09.2021
To,
As per list attached
Sub: Change of Base Year of Consumer Price Index of Industrial Workers (Labour Index)
1. RBI has published Consumer Price Index for Industrial Workers, CPI(IW), with the base year 2001 up to, August 2020. After August 2020, CPI(IW) has been published by RBI with the base year 2016. The base year of Consumer Price Index for Industrial Workers i.e. CPI(IW) has been changed from year 2001 to year 2016 with effect from September 2020. Further, RBI has provided a linking factor of 2.88 between the old series and the revised series.
2. The Clause 46A of GCC deals with the price variation clause in contracts. Formulae used for the calculation of the amount of variation in the price for labour components require consumer price index for industrial worker-All India; published in RBI Bulletin.
3. The issue has been examined. It has been decided by Board (MI, MF) to adopt above linking factor of 2.88 for linking index of Base year 2001 and 2016. Example for applying linking factor is as under:
• The amount of variation in prices in labour is worked out by the following formulae
4. This issues with ‘the concurrence of Finance Directorate of Ministry of Railways.
(प्रेम सागर गुप्ता)
कार्यपालक निदेशक सिविल इंजीनियरिंग(जी)/रेलवे बोर्ड
[Rly No. 030-44803, MTNL No.-011-23383379]