Which of the following brings out the ‘Consumer Price Index Number for Industrial Workers’?
Which of the following brings out the 'Consumer Price Index Number for Industrial Workers'?
- AThe Reserve Bank of India
- BThe Department of Economic Affairs
- CThe Labour Bureau
- DThe Department of Personnel and Training
Answer and explanation
Correct answer: C
The Labour Bureau, attached to the Ministry of Labour and Employment, is responsible for compiling and publishing the Consumer Price Index Number for Industrial Workers (CPI-IW) in India. This index tracks changes in the retail prices of a basket of goods and services consumed by industrial workers. It serves as a crucial indicator of inflation faced by this specific segment of the population.
The Labour Bureau is responsible for maintaining: - CPI (Industrial Workers) - CPI (Rural Labourers) - CPI (Agricultural Labourers)