With reference to India, consider the following Statements: 1. The Wholesale Price Index (WPI) in India is available on a monthly basis only 2. As compared to Consumer Price Index for Industrial Workers (CPI (IW)), the WPI gives less weight to food articl

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Q: 116 (IAS/2010)
With reference to India, consider the following Statements:
1. The Wholesale Price Index (WPI) in India is available on a monthly basis only
2. As compared to Consumer Price Index for Industrial Workers (CPI (IW)), the WPI gives less weight to food articles.
Which of the statements given above is/are correct?

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,110,161,35,96,114,26

keywords: 

{'consumer price index': [0, 0, 1, 2], 'wholesale price index': [0, 0, 5, 1], 'cpi': [0, 0, 0, 1], 'food articles': [0, 0, 2, 1], 'wpi': [0, 0, 4, 1], 'less weight': [0, 0, 1, 0], 'iw': [0, 0, 1, 0], 'monthly basis': [0, 1, 1, 0], 'industrial workers': [1, 0, 1, 3], 'india': [8, 1, 7, 13]}

Both the statements given above are correct.

  1. The Wholesale Price Index (WPI) in India is available on a monthly basis only. It is published by the Office of Economic Adviser, Ministry of Commerce and Industry.

  2. As compared to Consumer Price Index for Industrial Workers (CPI (IW)), the WPI gives less weight to food articles. The WPI is calculated on the basis of wholesale prices of a basket of goods, while the CPI (IW) is based on retail prices of goods consumed by industrial workers. The WPI includes a variety of goods such as food articles, minerals, crude oil, manufactured products, etc. but the weightage given to food articles is less in comparison to CPI (IW).