With reference to the price indices published in India, consider the following statements:
1. The Wholesale Price Index (WPI) is compiled and published by the National Statistical Office (NSO).
2. The Consumer Price Index (CPI) for rural, urban, and combined sectors is released by the Office of the Economic Adviser, Ministry of Commerce and Industry.
Which of the statements given above is/are correct?
- A1 only
- B2 only
- CBoth 1 and 2
- Neither 1 nor 2Answer
Answer
Neither 1 nor 2 is correct.
Both statements are incorrect. In India, the Wholesale Price Index (WPI) is published by the Office of the Economic Adviser (Ministry of Commerce and Industry), while the Consumer Price Index (CPI Combined) is compiled and published by the National Statistical Office (NSO, Ministry of Statistics and Programme Implementation). Therefore, the option stating 'Neither 1 nor 2' is correct.
Step-by-Step Solution
Key Concept
Releasing agencies of Indian price indices (CPI vs WPI)
Estimated Time:45s