2018•GAP GYAN - A GLOBAL JOURNAL OF SOCIAL SCIENCESOpen access

A RESEARCH PAPER ON A STUDY ON PRICE INDICES METHODS IN INDIA

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Abstract

It is expected that the price index numbers which are universally used as the scientific tool of measures of price changes all over the world must reflect the real and true position of prices in economy every time since they are the only arithmetic source of measuring the price fluctuations and economic fluctuations thereby. But unfortunately, they do not seem to fulfill these expectations fully especially in India. Many times it has happened that price index numbers have failed in reflecting real economic conditions through price changes. So, this research is attempt to study all the different price indices model and try to find out the effective way out.

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Key concepts: Price index, Economics, Producer price index, Wholesale price index, Index (typography), Price level, Position (finance), Consumer price index (South Africa)