Question

Q. In the context of Consumer Price Index Industrial Workers (CPI IW),consider the following statements:

Select the correct answer using the codes given below:

• A.
  1 only
• B.
  1 and 2 only
• C.
  2 and 3 only
• D.
  1, 2 and 3

Answer 1

The correct option is B

1 and 2 only
Explanation:

Statement 1 is correct: CPI is published by the Labour Bureau under the Ministry of Labour and Employment.

Statement 2 is correct: It is used for determining the dearness allowance for the government employees and the Industrial workers.

Statement 3 is incorrect: Base year was revised to 2016 as it covers the latest consumption pattern of the targeted population (earlier it was 2001). Now it covers 463 items earlier it covered only 392 items.