Which reference to the Wholesale Price Index (WPI), consider the following statements:
1. The new WPI series w

Question

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?

Accepted Answer

The correct option is B because of the following reasons:

Statement 1 is incorrect because the WPI series with the base year 1993-94 actually became effective from April 1, 2000, not 1998.

Statement 2 is correct because the 1993-94 series was indeed officially introduced and became effective starting from April 1, 2000.

Statement 3 is correct because in the 1993-94 series, the weightage assigned to the Fuel, Power, Light, and Lubricants group, which includes electricity, was increased compared to the previous 1981-82 series to better reflect the changing structure of the economy.

Since statements 2 and 3 are accurate regarding the transition to the 1993-94 base year series, option B is the right choice.

Answer

1, 2 and 3

Answer

2 and 3

Answer

1 and 3

Answer

1 and 2

Explanation

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