The base year of the CPI-IW series was recently revised to 2016 to reflect updated consumption patterns and improve the index's relevance for wage and allowance determination for industrial workers.
Which of the following statements are correct regarding recent revisions pertaining to Consumer Price Index for Industrial Workers (CPI-IW)? 1. Base year has been revised to 2017 2. Dearness Allowance has been increased owing to base year change 3. Aim is to keep revising series every 5 years
Asked in GPSC Prelims CSP 2 2021 · Topic: National Income & Gross Domestic Product (Gross Domestic Product (GDP): Concepts and Measures)
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