timezone in PHP is incorrect
Try setting your preferred timezone in civicrm.settings.php and/or wp-config.php?

ini_set('date.timezone', 'Asia/Calcutta');


You might want to adapt the timezone you set as appropriate to your MySQL server.

mysql -e 'SELECT @@system_time_zone;'


I believe India does not observe daylight savings? For that and similar reasons it's probably better to match the timezones in both systems. If MySQL is set to UTC offset, use that for PHP, and if MySQL is set to a regional timezone, follow suit.