Given below are two statements, one labelled as Assertion (A) and the other as Reason (R).\n **Assertion (A):** The Wholesale Price Index (WPI) is often considered an inadequate indicator for policy formulation targeting consumer welfare in India.\n **Reason (R):** WPI does not include the service sector, which contributes more than 50% to India's Gross Value Added (GVA), and it assigns a lower weight to food items compared to actual household consumption.\n Select the correct answer using the code given below:

Options:

  • A: Both A and R are true and R is the correct explanation of A
  • B: Both A and R are true but R is not the correct explanation of A
  • C: A is true but R is false
  • D: A is false but R is true

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