Sawaal
2
Q:

Which ministry has started the exercise to revise base year to 2017 - 2018 for computation of wholesale inflation?

A) Ministry of Commerce and Industry B) Ministry of Finance
C) Ministry of Corporate Affairs D) All the above

Answer:   A) Ministry of Commerce and Industry



Explanation:

The India's commerce and industry ministry has started the exercise to revise base year to 2017-18 for computation of wholesale inflation with a view to present more realistic picture of the price situation

 

In May last year, the government revised the base year for WPI-based inflation to 2011-12 to give a better indication of changes in prices of commodities.

 

The new index, with 2017-18, is expected to have new items, which would provide a more realistic picture of price rise and its impact on people.

 

Most of the additions could be in the manufactured products category. Currently, the index has a total of 697 items, including primary articles, fuel and power and manufactured products.

Subject: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO
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