In the context of inflation measurement in India, CPI stands for:
A. Commodity Price Index
B. Consumer Price Index
C. Cost of Production Index
D. Central Price Indicator
Answer: Option B
Solution (By JKSSB Mock Tests)
CPI is the Consumer Price Index, which measures changes in the price level of a basket of consumer goods and services. It is the primary measure targeted by RBI for inflation.
Explanation:
Priority Sector Lending targets sectors such as agriculture, micro, small and medium enterprises, education, housing, social infrastructure and renewable energy.
Explanation:
The circular economy seeks to keep products, materials and resources in use for as long as possible, extracting maximum value and then recovering and regenerating them at the end of their service life.
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