Expert committee constituted for service price index

By Staff
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Google Oneindia News

New Delhi, Apr 26 (UNI) The Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce and Industry has constituted an Expert Committee to render technical advice for development of Service Price Index (SPI) and its related issues.

According to an offical release issued here today, the committee will be chaired by Prof C P Chandrasekhar, Centre for Economic Studies and Planning, Jawaharlal Nehru University. Key members of the committee includes Dr B N Goldar, Institute of Economic Growth, Dr Nagesh Kumar, DG, Research and Information System for Developing Countries, Dr Tarun Das, Institute of Integrated Learning in Management among others.

The terms of reference of the Expert Committee includes, to provide guidance in the context of concept, methodology, scope/coverage, related aspects and other important issues for the Services Sector Index.

It includes rendering technical advice for development of sector specific Service Price Index (SPI) and its related issues, keeping in view best international practices.

It will also examine regularly availability and source of data for compilation of Service Price Index and to scrutinize the sector specific studies/survey results and suggest improvements and modifications for the same.

The terms also include overseeing the inter-sectoral consistency/uniformity with international standard and best practices as well as to provide continuous guidance to the Office of the Economic Advisor in actual construction of the Index.

To oversee the process of evolution of an integrated Service Price Index, to identify new priority sectors for inclusion in construction of the Service Price Index, as and when a need arises, are also incorporated in the terms of reference Suggesting institutional mechanism for collection of requisite data for the Services Sector Index and also its periodical updation and to suggest measures for capacity building and augmentation of infrastructural facilities in the Office of the Economic Adviser, are included in its working.

UNI

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