Q. Consider the following statements:

1. Wholesale Price Index (WPI) and Index of Industrial Production (IIP) are both released by the Central Statistics Office (CSO).
2. Both WPI and IIP have existed since the British era in India.

Which of the above statements is/are correct?
Answer: Only 2 is correct
Notes: Statement 1 is incorrect because WPI is published by the Office of Economic Adviser, Ministry of Commerce and Industry, whereas IIP is released by the Central Statistics Office. Statement 2 is correct as WPI originated in 1902 and IIP dates back to the 1930s, both initiated during the British colonial period.