Q: Which of the following brings out the ‘Consumer Price Index Number for Industrial Workers?
a) The Reserve Bank of India
b) The Department of Economic Affairs
c) The Labour Bureau
d) The Department of Personnel and Training
The correct answer is Option 3.
Consumer Price Index Numbers for Industrial Workers
- It is designed to measure a change over time in prices of a given basket of goods and services consumed by a defined population (i.e. Industrial Workers).
- It is compiled for Industrial Workers residing in 70 centres of industrial importance in the country.
- It is compiled and released every month based on the weights derived from the working-Class Family Income and Expenditure Survey and the current prices of the selected items collected from 226 markets spread over 70 centres.
- Based on these centre indices the All-India index, which is a weighted average, is derived.
- Labour Bureau compiles and releases indices to meet the specific requirements of the Index users of the respective states. Hence, Option 3 is correct.
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