Consider the following statements with respect to WPI.
1. Manufactured products have the highest weight among the basket of products used to calculate WPI.
2. WPI is released weekly by NSSO.
3. Base year to calculate WPI is 2004-05.
Select the correct answer using the codes given below
1 and 2 only
2 and 3 only
1 and 3 only
All the above.
Explanation:
The WPI measures the price of a representative basket of wholesale goods. In India, this basket is composed of three groups: Primary Articles (20.1% of total weight), Fuel and Power (14.9%) and Manufactured Products (65%).
WPI numbers are typically measured weekly by Dept of Industrial policy and promotion - Ministry of Commerce and Industry.
Base year to calculate WPI – 2004-05.
The WPI measures the price of a representative basket of wholesale goods. In India, this basket is composed of three groups: Primary Articles (20.1% of total weight), Fuel and Power (14.9%) and Manufactured Products (65%).
WPI numbers are typically measured weekly by Dept of Industrial policy and promotion - Ministry of Commerce and Industry.
Base year to calculate WPI – 2004-05.