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PRESS INFORMATION BUREAU

21-November -2023

1. Union Health Ministry solicits comments from general public on the proposed National Pharmacy Commission Bill 2023.

Topic: GS2 – Indian polity

Context:

  • The Ministry of Health and Family Welfare is proposing the National Pharmacy Commission Bill, 2023.

More on this news:

  • The objective is to establish the National Pharmacy Commission and repeal the existing Pharmacy Act, 1948.
  • Draft Bill Availability: The draft of the National Pharmacy Commission Bill is accessible on the Ministry’s website.
    • It was uploaded on 14-11-2023, in the News and Highlights section.
  • Purpose of Public Input: The Ministry aims to enrich the proposed legislation by incorporating insights and feedback from the public.
  • Transparency and Inclusivity: This initiative reflects a commitment to transparency and encourages public participation in shaping healthcare legislation.

Source: https://pib.gov.in/PressReleseDetail.aspx?PRID=1978128

2. All-India Consumer Price Index Numbers for Agricultural and Rural Labourers – October, 2023

Topic: GS2 – Indian economy

Context:

  • Consumer Price Index (CPI) for Agricultural and Rural Labourers – October 2023: CPI-AL increased by 15 points to reach 1241, while CPI-RL increased by 14 points, standing at 1251.

What is the Consumer Price Index (CPI)?

  • The Consumer Price Index (CPI) is a measure of the average change in prices paid by consumers for a basket of consumer goods and services over a period of time.
  • It is one of the most widely used indicators of inflation in India.
  • The CPI is calculated and published by the the National Statistical Office (NSO).

How is the CPI calculated?

  • The CPI is calculated by comparing the prices of a fixed basket of goods and services to their prices in a base period.
  • The basket of goods and services is designed to represent the typical spending patterns of urban households in India.
  • The weights of each item in the basket are based on its relative importance in household expenditure.

What are the different types of CPI in India?

  • CPI Combined:This is the most widely used CPI in India. It covers urban and rural households and measures the average change in prices of a basket of goods and services consumed by both urban and rural households.
  • CPI Urban:This CPI covers urban households only and measures the average change in prices of a basket of goods and services consumed by urban households.
  • CPI Rural: This CPI covers rural households only and measures the average change in prices of a basket of goods and services consumed by rural households.

What are the uses of the CPI?

  • Measuring inflation: The CPI is the primary measure of inflation in India. It is used by the Reserve Bank of India (RBI) to set monetary policy.
  • Indexing wages and salaries:The CPI is used to index wages and salaries to protect workers from the effects of inflation.
  • Deflating monetary magnitudes:The CPI is used to deflate monetary magnitudes to show changes in real values.
  • Adjusting government benefits:The CPI is used to adjust government benefits, such as Social Security and pensions, to protect beneficiaries from the effects of inflation.

Source: https://pib.gov.in/PressReleseDetail.aspx?PRID=1978288

 

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