(1) The rates specified under'rule 4 shall be increased without compounding, by tlree percent each year with effect from the l"t day of April, 2008 and such increased rate shall be deemed to be the base rate for the subsequent years.
(2) The base rates shall be revised annually with effect from April I each year to reflect the increase in wholesale price index between the week ending on Januar5r 6, 2OO7 (i.e.208.7) and the wholesale price index for the month of December of the year in which such revision is undertaken but sucb revision shall be forty per cent of the increase in wholesale price index.
(3) The formula for determining the applicable rate of fee shall be as follows:-rt Applicable rate of fee : base rate + base rate x { Wp-LA:Y{pt eJ x O.+ gr{qos rq-e (3i:nrqrtur). qrr6rrR a r{. zor r Explanalion'. - for the purposes ofthis sub-rule -
(a) applicable rate of fee shall be the rate payable by tho user;
(b) base rate shall be the rate specified in rule 4 read with sub-rule (l) of rule 5;
(C) WPI A means the wholesale price index for the month of Docember of the immediately preceding year the date of revision under these rules;
and
(d) WPI B means the wholesale price index of the week ending on 6s January, 2OO7 i.e. 2OA.7.
Illustration :
If the revision is to be made for the year 2008-09 by applying the wholesale price index for tle month of December, 2OO7 .(i.o 216.4)' then the rate for car, jeep or van will be O-6194 as computed below:- Applicable rate of fee = O.6695 + 0.6695 X (216.4'208-7 )xO.4: 0.6794 , 20a.7
(4) Armual revision ofrate offee under this rule shall be effective from first of April evory Year.