Consider the following statements regarding weightage of different articles in Wholesale Price Index (WPI):
1. Fuel and power have higher weightage in WPI than that of primary articles.
2. Weightage of manufactured products in WPI is higher than that of fuel and power.
Answer
The correct answer is B: 2 only. In the current WPI series (base year 2011-12), the weightages are: Primary articles ~22.62%, Fuel and Power ~13.15%, and Manufactured Products ~64.23%. Statement 1 is incorrect because Primary articles (22.62%) have a higher weightage than Fuel and Power (13.15%), not the other way around.
A.1 only
B.2 only✓ Correct
C.Both 1 and 2
D.Neither 1 nor 2
Explanation
In the current WPI series (base year 2011-12), the weightages are: Primary articles ~22.62%, Fuel and Power ~13.15%, and Manufactured Products ~64.23%. Statement 1 is incorrect because Primary articles (22.62%) have a higher weightage than Fuel and Power (13.15%), not the other way around. Statement 2 is correct because Manufactured Products (64.23%) have a much higher weightage than Fuel and Power (13.15%). Hence only statement 2 is correct.
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