With reference to the Wholesale Price Index (WPI), consider the following statements: 1. The new WPI series with base 1993–94 = 100 became effective from April 1998 2. In the new WPI series, the weight for primary articles has gone down by 10 percentage points 3. The weight for electricity has increased in the new WPI series Which of these statements are correct?

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.

With reference to the Wholesale Price Index… - IAS 2002 Economics PYQ

IAS 2002 — Economics Economy

2002mcqmedium

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?

Official previous-year question

Prelims GS Paper I · Held on 19 May 2002.

Options

A1, 2 & 3
B2 & 3
C1 & 3
D1 & 2

Did you get this right?

Solution

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.

Your note

IAS Economy in other years

Economy 2026 Economy 2025 Economy 2024 Economy 2023 Economy 2022 Economy 2021 Economy 2020 Economy 2019 Economy 2018 Economy 2017 Economy 2016 Economy 2015

Keep practicing Economy

Work through every IAS Economy PYQ, year by year.

Browse all Economics topics

Options

Did you get this right?

Your note

IAS Economy in other years

More IAS Economy questions

Keep practicing Economy