Correct Option
The Labour Bureau, an attached office under the Ministry of Labour and Employment, is responsible for compiling and releasing the Consumer Price Index for Industrial Workers (CPI-IW) on a monthly basis. This index serves as a crucial economic indicator, utilized for:
- Dearness Allowance (DA) calculations for government employees.
- Wage indexation in various sectors.
- Formulating and tracking social sector policies.
Incorrect Options
The Reserve Bank of India (RBI) utilizes various Consumer Price Index data for monetary policy formulation but does not compile the CPI-IW.
The Department of Economic Affairs (DEA) under the Ministry of Finance deals with broader macroeconomic policy and data, but the compilation of CPI-IW falls outside its purview.
The Department of Personnel and Training (DoPT) is primarily concerned with personnel management, recruitment, training, and service conditions for the central government, not the compilation of economic indices like CPI-IW.