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Lesson-3 Inflation
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Lesson-3 Inflation-WPI and CPI and CPI-IW

Rishi Jain
MBA,PGDFM Author of Bhavishya Arthik Patrika(for Civil Services), worked in SBI group for 7 years, teaching indian economy to UPSC student

U
Unacademy user
You are doing gr8 job sir itni. Mehnat hm logo k liye thanks sir. Mai to fan ho gya hoon apka.. Ty sir I'm anoop frm Youtube.. Abhi mai biology study kr rha hoon kl video jrur dekhunga ty ty frm bottom of my heart ♥. Love u sir. Your videos are beast. Ty especially Organic k trick... 💕 💕 💕

  1. TWO MAIN INDEX FOR CALCULATION OF INFLATION WPI CP WHOLE PRICE IN DEX) (CoUMERPRICE


  2. WPI (WHOLESALE PRICE INDEX) CALCULATED BY DIPP BUT DATA PUBLISHED BY MINISTRY OF ECONOMIC AFFAIR MONTHLY BASIS BASE YEAR 2011-12 TOTAL 697 GOODS PRIMARY (117) FUEL (16) MANUFACTURING (564) GOODS BASE YEAR CHANGE .2017 TWO CHANGES FOOD INDEX ADDED


  3. Consumer Price Index BOTH GOODS AND SERVICES MONTHLY BASIS BASE YEAR 2012 THE PRIMARY GOODS WEIGHTAGE MORE THAN 55% INCLUDE FACTORY COSTTRANSPORTATION


  4. WITH REFERENCE TO INDIA, CONSIDER THE FOLLOWING STATEMENTS 1. THE WHOLESALE PRICE INDEX (WPI) IN INDIA IS AVAILABLE ON MONTHLY BASIS ONLY 2. AS COMPARED ON CONSUMER PRICE INDEX FOR INDUSTRIAL WORKERS [CPI(WI)I, THE WPI GIVES LESS WEIGHT TO FOOD ARTICLES. WHICH OF THE STATEMENT(S) GIVEN ABOVE IS/ARE CORRECT? a. Only 1 b. Only 2 c. Both 1 & 2 d. Neither 1 nor 2


  5. CPI HAS THREE INDICES 1. CPI (IW)-CPI (INDUSTRIAL WORKER) BASE YEAR 2013-14 IN CALCULATION OF DEARNESS ALLOWANCES IN ORDER TO INCREASE CENTRAL GOVERNMENT EMPLOYEE SALARY 2. CPI (AL) CPI (AGRICULTURAL LABOUR) 3. CPI (RL)- CPI (RURAL LABOUR)


  6. Which of the following brings out the 'Consumer Price Index Number for Industrial Workers'? a. The Reserve Bank of India b. The Department of Economic Affairs c. The Labour Bureau d. The Department of Personnel and Training


  7. Q. Consider the following statement. 1. The current base year of WPI is 2011-12. 2. The current base year of GDP is 2011-12. Which of the above statement is/are incorrect? a. Only 1 b. Only 2 c. 1& 2 d. Neither 1 nor 2