Which reference to the Wholesale Price Index (WPI), consider the following statements: 1. The new WPI series with base 1993-94 = 100 became effective from April 1998 2. In the new WPI series, became effective from 1 April 2000. Statements 2 and 3 are corr

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Q: 59 (IAS/2002)
Which reference to the Wholesale Price Index (WPI), consider the following statements:
1. The new WPI series with base 1993-94 = 100 became effective from April 1998
2. In the new WPI series, became effective from 1 April 2000. Statements 2 and 3 are correct
3. The weight for electricity has increased in the new WPI series
Which of these statements are correct ?

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,17,35,24,17,7,4

keywords: 

{'wholesale price index': [0, 0, 5, 1], 'new wpi series': [0, 0, 1, 0], 'wpi': [0, 0, 4, 1], 'weight': [0, 0, 1, 1]}

The question asks about the Wholesale Price Index (WPI) with regard to 3 statements. The correct answer is Option 2: "Statements 2 and 3 are correct".

Option 1 posits that "1, 2 and 3" are correct. However, this is not accurate because the first statement is incorrect. The new WPI series with base 1993-94 = 100 became effective from April 2000, not April 1998.

Option 2 states that the statements 2 and 3 are correct. This is indeed accurate. Statement 2 correctly indicates that the new WPI series became effective from 1 April 2000. Statement 3 accurately states that the weight for electricity has increased in the new WPI series.

Option 3 suggests that statements 1 and 3 are correct. However, the first statement is incorrect, as noted earlier about the effective date of the new WPI series.

Option 4 proposes that statements 1 and 2 are correct. This is wrong because the first statement about the effective date of the new WPI series is incorrect.