Question

Which of the following is/are correctly matched?
Index Base Year
1. Index of Industrial Production 2011-12
2. Consumer Price Index 2010 to 2012
3. Wholesale Price Index 2011-12
Select the correct answer using the codes given:

• A. Only 1 and 2
• B. Only 1 and 3
• C. Only 2 and 3
• D. All of the above

Answer 1

The correct option is D All of the above

Explanation: The Central Statistics Office (CSO) revised the base year of the all-India Index of Industrial Production (IIP) from 2004-05 to 2011-12. Revisions in the IIP are necessitated to maintain representativeness of the items and producing entities and also address issues relating to continuous flow of production data.
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has revised the Base Year of the Consumer Price Index (CPI) from 2010=100 to 2012=100 with effect from the release of indices for the month of January 2015.
The base year of All-India WPI has been revised from 2004-05 to 2011-12 on 12 May 2017 to align it with the base year of other macroeconomic indicators like the Gross Domestic Product (GDP) and Index of Industrial Production (IIP).