....On several occasions in the recent past, important users of official data have questioned its veracity. The monthly Index of Industrial Production, which tracks industrial output, has been extremely volatile after it moved to a new series. The RBI has found it to be unreliable for framing monetary policies. The monthly WPI inflation figures have likewise been criticised but the main point of criticism is that, despite some recent improvements, it does not capture the price movements that affect the consumers directly.......
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