RAS question
The Consumer Price Index for Industrial Workers (CPI-IW) is compiled by:
Correct answer: (D) Labour Bureau.
The Consumer Price Index for Industrial Workers is compiled by the Labour Bureau under the Ministry of Labour and Employment.
Explanation
CPI-IW is a labour-market price index, so its compilation sits with the Labour Bureau, not with the general statistical, commerce, or banking authorities. The Labour Bureau’s official CPI-IW page states that compilation and maintenance of the Consumer Price Index Numbers for Industrial Workers are done by the Bureau on a continuous basis. The same page identifies the current CPI-IW series as base 2016=100 and explains its practical use: the indices are used for regulation of dearness allowance and wages, and also for measuring retail-price inflation and policy formulation. This is why the index is especially important in questions on wage adjustment and DA calculation.
Why the other options are wrong
- (A) NSO is associated with CPI-Combined, while CPI-IW is specifically compiled by the Labour Bureau.
- (B) The Ministry of Commerce is linked with WPI, not the industrial-workers consumer price index.
- (C) RBI uses price indices in monetary and economic analysis, but it does not compile CPI-IW.
Concept
This tests the Indian Economy theme of price indices and their compiling agencies. It recurs in RAS because CPI-IW connects inflation measurement with dearness allowance and wage adjustment, making the institution behind it exam-relevant.