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With reference to the Wholesale Price Index (WPI), consider the following statements:

The new WPI series with base 1993–94 = 100 became effective from April 1998
In the new WPI series, the weight for primary articles has gone down by 10 percentage points
The weight for electricity has increased in the new WPI series

Which of these statements are correct?

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Correct Option

Statements 2 and 3 are correct.

The Wholesale Price Index (WPI) series with the base year 1993-94 = 100 became effective from April 2000. This revision involved a restructuring of commodity groups and their respective weights.
In this revised WPI series, the weight assigned to primary articles was reduced by approximately 10 percentage points, decreasing from 32% to 22%. This adjustment reflected changes in the structure of the economy.
Within the 'Fuel, Power, Light & Lubricants' group, the weight for electricity was increased from 11% to 14% in the new WPI series, indicating its enhanced significance in the overall index calculation.

Incorrect Options

Statement 1 is incorrect. The new WPI series with base year 1993-94 = 100 was implemented from April 2000, not April 1998.

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With reference to the Wholesale Price Index (WPI), consider the following statements:

EXPLANATION

Correct Option

Incorrect Options