{"id":1948,"date":"2024-03-30T14:09:33","date_gmt":"2024-03-30T08:39:33","guid":{"rendered":"https:\/\/lotusarise.com\/qna\/?p=1948"},"modified":"2024-04-03T07:08:01","modified_gmt":"2024-04-03T01:38:01","slug":"q-which-of-the-following-brings-out-the-consumer-price-index-number-for-industrial-workers","status":"publish","type":"post","link":"https:\/\/lotusarise.com\/qna\/upsc\/q-which-of-the-following-brings-out-the-consumer-price-index-number-for-industrial-workers","title":{"rendered":"Q.\u00a0Which of the following brings out the \u2018Consumer Price Index Number for Industrial Workers?"},"content":{"rendered":"\n<ul class=\"mcq wp-block-list\">\n<li>The Reserve Bank of India<\/li>\n\n\n\n<li>The Department of Economic Affairs<\/li>\n\n\n\n<li>The Labour Bureau<\/li>\n\n\n\n<li>The Department of Personnel and Training<\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Answer:<\/strong>&nbsp;<strong>(c) The Labour Bureau<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h5 class=\"wp-block-heading\" id=\"consumer-price-index\"><strong>Consumer Price Index<\/strong><\/h5>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Retail inflation,\u00a0also known as Consumer Price Index (CPI) inflation,\u00a0<strong>tracks the change in&nbsp;retail prices of goods and services which households purchase&nbsp;for their&nbsp;daily consumption<\/strong>.\n<ul class=\"wp-block-list\">\n<li>It measures price changes from the<strong>&nbsp;perspective of a retail buyer.<\/strong>&nbsp;<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>CPI is&nbsp;calculated for a<strong>&nbsp;fixed basket of goods and services<\/strong>&nbsp;that may or may not be altered by the government from time to time.<\/li>\n\n\n\n<li>The change in the price index over a period of time is referred to as CPI-based inflation, or retail inflation.<\/li>\n\n\n\n<li>It is released by the&nbsp;<strong>National Statistical Office&nbsp;(NSO).<\/strong><\/li>\n\n\n\n<li>The CPI calculates the difference in the&nbsp;<strong>price of commodities and services<\/strong>&nbsp;such as food, medical care, education, electronics etc, which Indian consumers buy for use.<\/li>\n\n\n\n<li>The CPI has several sub-groups including&nbsp;<strong>food and beverages, fuel and light, housing and clothing, bedding and footwear.<\/strong><\/li>\n\n\n\n<li>The CPI uses a&nbsp;<strong>base year<\/strong>&nbsp;set at 2011-2012.<\/li>\n\n\n\n<li>The CPI is&nbsp;<strong>published on a monthly basis<\/strong>.<\/li>\n\n\n\n<li>At present, India has\u00a0<strong>five consumer price indexes<\/strong>\u00a0(CPIs),\u00a0<strong>three of which are working-class specific.<\/strong>\u00a0These are:\n<ul class=\"wp-block-list\">\n<li><strong>CPI for Industrial Workers (IW).<\/strong><\/li>\n\n\n\n<li><strong>CPI for Agricultural Labourer (AL).<\/strong><\/li>\n\n\n\n<li><strong>CPI for Rural Labourer (RL).<\/strong>\n<ul class=\"wp-block-list\">\n<li>These three indexes are compiled by the&nbsp;<strong>Labour Bureau<\/strong>&nbsp;in the&nbsp;<strong>Ministry of Labour and Employment.<\/strong><\/li>\n\n\n\n<li>CPIs AL and RL are used to fix minimum wages of agricultural labourers and rural unskilled employees.<\/li>\n\n\n\n<li>The Labour Bureau is also expected to bring out the&nbsp;<strong>new series of the CPI- AL\/RL,<\/strong>&nbsp;which currently has the base year of 1986-87 by August 2021.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The other two are<strong>&nbsp;CPI-Urban and CPI Rural.<\/strong>\n<ul class=\"wp-block-list\">\n<li>These two indexes are compiled by the&nbsp;<strong>National Statistical Office (NSO)<\/strong>&nbsp;in the Ministry of Statistics and Programme Implementation.<\/li>\n\n\n\n<li>The combined rise in retail prices is captured by&nbsp;<strong>CPI Combined.<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>A committee set up by the National Statistical Commission (NSC) in 2005 under the recommendation of<strong>&nbsp;Dr C Rangarajan Commission,<\/strong>&nbsp;has suggested that CPI-Rural and CPI-Urban could be a substitute for CPI-AL\/RL and CPI-IW, respectively.<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\" id=\"cpi-for-industrial-workers-cpiiw\">CPI for Industrial Workers (CPI-IW)<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It attempts to quantify changes in the pricing of a fixed basket of products and services used by<strong>&nbsp;Industrial Workers over time<\/strong>.<\/li>\n\n\n\n<li>A typical&nbsp;<strong>working-class family from any of these seven economic sectors<\/strong>, ranging from industries, mines, plantations, motor transport, port, railways, and energy generation and distribution, would be the target demographic.<\/li>\n\n\n\n<li>The&nbsp;<strong>Labour Bureau<\/strong>&nbsp;compiles this list.<\/li>\n\n\n\n<li>This functions under the&nbsp;<strong>Ministry of Labour and Employment.<\/strong><\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\" id=\"cpi-for-agricultural-laborers-cpial\">CPI for Agricultural Laborers (CPI-AL)<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The&nbsp;<strong>Labor Bureau<\/strong>&nbsp;compiles this data to help revise minimum wages for&nbsp;<strong>agricultural labor in different States<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\" id=\"cpi-for-rural-labourer-cpirl\">CPI for Rural Labourer (CPI-RL)<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The&nbsp;<strong>Labour Bureau<\/strong>&nbsp;compiles this list.<\/li>\n\n\n\n<li>This functions under the Ministry<strong>&nbsp;of Labour and Employment.<\/strong><\/li>\n<\/ul>\n\n\n\n<h6 class=\"wp-block-heading\" id=\"cpi-urban-nonmanual-employees-cpiunme\">CPI (Urban Non-Manual Employees) (CPI-UNME)<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This information is compiled by the Central Statistics Office (CSO), which is now known as the\u00a0<strong>National Statistical Office (NSO).<\/strong>\n<ul class=\"wp-block-list\">\n<li>The Ministry of Statistics and Program Implementation oversees the NSO.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Answer:&nbsp;(c) The Labour Bureau Consumer Price Index CPI for Industrial Workers (CPI-IW) CPI for Agricultural Laborers (CPI-AL) CPI for Rural Labourer (CPI-RL) CPI (Urban Non-Manual Employees) (CPI-UNME)<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[1,3],"tags":[38],"years":[58],"class_list":["post-1948","post","type-post","status-publish","format-standard","hentry","category-upsc","category-prelims","tag-indian-economy","years-58"],"acf":[],"taxonomy_info":{"category":[{"value":1,"label":"UPSC"},{"value":3,"label":"Prelims"}],"post_tag":[{"value":38,"label":"Indian 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