UPSC Prelims Practice Questions — Index Numbers of Wholesale Price in India for the Month of April 2026 (Base Year: 2011-12)

Q1. Which one of the following is the nodal agency that compiles and releases the monthly Wholesale Price Index (WPI) of India?

  • A. Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade
  • B. National Statistical Office, Ministry of Statistics and Programme Implementation
  • C. Department of Economic Affairs, Ministry of Finance
  • D. Monetary Policy Department, Reserve Bank of India

Q2. The Office of the Economic Adviser, which releases the Wholesale Price Index of India, functions under which one of the following Union Ministries?

  • A. Ministry of Commerce and Industry
  • B. Ministry of Finance
  • C. Ministry of Statistics and Programme Implementation
  • D. Ministry of Corporate Affairs

Q3. Including the current series, how many distinct base years has the All-India Wholesale Price Index (WPI) used since the first WPI series was compiled in India?

  • A. Five
  • B. Six
  • C. Seven
  • D. Eight

Q4. In the current All-India Wholesale Price Index (Base Year: 2011-12) series, which one of the following major groups carries the highest weight in the index basket?

  • A. Primary Articles
  • B. Fuel & Power
  • C. Manufactured Products
  • D. Food Index

Q5. The All-India Wholesale Price Index (WPI) is compiled and released in India by which one of the following authorities?

  • A. National Statistical Office under the Ministry of Statistics and Programme Implementation
  • B. Office of the Economic Adviser under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry
  • C. Department of Economic Affairs, Ministry of Finance
  • D. Monetary Policy Department, Reserve Bank of India

Q6. Which of the following is/are correctly identified as a feature of CPI (Combined) in India that distinguishes it from the Wholesale Price Index (WPI)?

  1. It captures prices of services such as health, education and transport, which are entirely excluded from the WPI basket.
  2. It is compiled and released exclusively by the National Statistical Office under the Ministry of Statistics and Programme Implementation.
  3. Like WPI, it currently uses 2011-12 as its base year.
  4. It is the statutory nominal anchor for the Reserve Bank of India's flexible inflation targeting framework under the RBI Act, 1934.
  • A. 1 and 3 only
  • B. 2 and 4 only
  • C. 1, 2 and 4 only
  • D. 1, 2, 3 and 4

Q7. The Working Group under the chairmanship of Dr. Ramesh Chand, tasked with revising the base year of the Wholesale Price Index and recommending a roadmap for transition to a Producer Price Index, was constituted by which one of the following?

  • A. Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry
  • B. National Statistical Office, Ministry of Statistics and Programme Implementation
  • C. Department of Economic Affairs, Ministry of Finance
  • D. Monetary Policy Department, Reserve Bank of India

Q8. Under the flexible inflation targeting framework adopted by the Reserve Bank of India in 2016, the inflation target notified by the Central Government in the Official Gazette is defined exclusively in terms of which one of the following price indices?

  • A. Wholesale Price Index (All Commodities)
  • B. Consumer Price Index (Combined)
  • C. Consumer Price Index for Industrial Workers
  • D. GDP Deflator

Q9. With reference to the use of price indices in India's monetary policy and national accounts, consider the following statements: 1. Unlike the Wholesale Price Index, the Consumer Price Index (Combined) includes services in its basket. 2. The GDP deflator covers the entire spectrum of economic activities including services, whereas the Wholesale Price Index excludes services. 3. The Reserve Bank of India's statutory inflation target is currently defined in terms of the Wholesale Price Index with a tolerance band of ±2 per cent. Which of the statements given above is/are correct?

  1. Unlike the Wholesale Price Index, the Consumer Price Index (Combined) includes services in its basket.
  2. The GDP deflator covers the entire spectrum of economic activities including services, whereas the Wholesale Price Index excludes services.
  3. The Reserve Bank of India's statutory inflation target is currently defined in terms of the Wholesale Price Index with a tolerance band of ±2 per cent.
  • A. 1 and 2 only
  • B. 2 and 3 only
  • C. 1 and 3 only
  • D. 1, 2 and 3