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.