Which of the following statements is are incorrect about CPI Industrial Worker 1 The base year for t...........

Indian Economic System(CSC) Inflation

Which of the following statements is/are incorrect about CPI-Industrial Worker?

1. The base year for the calculation is 2001.

2. It is compiled by the Labour Bureau in the Ministry of Labour and Employment

3. It is mainly used for determining dearness allowance (DA) of government employees and workers in the industrial sectors besides measuring in fl ation in retail prices.

Select the correct option using the codes given below:

1 only

2 only

3 only

1, 2 and 3

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Explanation:

Consumer Price Index for Industrial Worker (CPI-IW) :

Ministry of Labour and Employment released the Consumer Price Index for Industrial Worker (CPI-IW) with base year 2016.
The new series of CPI-IW with base 2016 has replaced the existing series with base 2001 .
The CPI-IW is mainly used for determining dearness allowance (DA) paid to central/state government employees and workers in the industrial sectors besides measuring in fl ation in retail prices, fixation and revision of minimum wages in scheduled employments.
CPI-IW is compiled and maintained by the Labour Bureau, an attached officeof the Ministry of Labour & Employment.