JETIREXPLORE- Search Thousands of research papers



Published in:

Volume 7 Issue 5
May-2020
eISSN: 2349-5162

Unique Identifier

JETIR2005237

Page Number

679-688

Share This Article


Title

Study of Price Variation using Linking Factor in Construction Contracts in India

ISSN

2349-5162

Cite This Article

"Study of Price Variation using Linking Factor in Construction Contracts in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 5, page no.679-688, May-2020, Available :http://www.jetir.org/papers/JETIR2005237.pdf

Abstract

The economy of India is fifth position in the world by nominal Gross Domestic Production (GDP) with share of global GDP of 7.74%. Large instability exists in an economic system, this instability reflects in adverse effect on prices of commodities. Construction sector depends on resources such as materials, machineries, labour and are the major cost drivers of construction projects. Variation in cost of these resources of work affects the budget of a construction project adversely. This price correction is referred as escalation or price adjustment in construction contract documents. Escalation is a phenomenon of economics reflected through rate of inflation computed from Wholesale price index (WPI) data. Wholesale price index is an index that measures and tracks the changes in price of goods in the stages before the retail level i.e. at the wholesale market level. This project studies the current structure of calculation of wholesale price index, linking factor and its effects on arriving at escalation amount by doing a case study on project in Andhra Pradesh, India. It is concluded that by using linking factors WPI has been worked out for continuing with old base year index..

Key Words

Index, Whole Sale Price Index, Consumer Price Index Variation, Linking Factor

Cite This Article

"Study of Price Variation using Linking Factor in Construction Contracts in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 5, page no. pp679-688, May-2020, Available at : http://www.jetir.org/papers/JETIR2005237.pdf

Publication Details

Published Paper ID: JETIR2005237
Registration ID: 232201
Published In: Volume 7 | Issue 5 | Year May-2020
DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.23633
Page No: 679-688
ISSN Number: 2349-5162

Download Paper

Preview Article

Download Paper




Cite This Article

"Study of Price Variation using Linking Factor in Construction Contracts in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 5, page no. pp679-688, May-2020, Available at : http://www.jetir.org/papers/JETIR2005237.pdf




Preview This Article


Downlaod

Click here for Article Preview

Download PDF

Downloads

00021

Print This Page