(a) Inflation means rise in general price level over a period of time with expectations of further increases. It is measured by changes in WPI (Wholesale Price Index). The base year to calculate WPI is 1993-94 since April 2000.
The conditions of employment and wages of workers in the garment factory can be described as:
1. Conditions of employment - The conditions of employment at garment exporting factories are deplorable....
(a) Those who benefit from higher inflation are debtors and those who suffer from it are creditors. If one has substantial debt, each rupee one has to repay would be...
(b) The new WPI series with base 1993-94 = 100 became effective from April 2000. In the new WPI series, the weight for primary articles has gone down by 10...