Q. Consider the following statements:
1.The National Pharmaceutical Pricing Authority caps medicine prices listed under National List of Essential Medicines and changes are made only based on wholesale price index-based inflation.
2.The prices of essential drugs in India are regulated by the Essential Commodities Act, 1955. 
Which of the statements given above are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C
Notes:

Statement 1 and 2 are correct. The National Pharmaceutical Pricing Authority caps medicine prices listed under National List of Essential Medicines and changes are made only based on wholesale price index-based inflation. The prices of essential drugs in India are regulated by the Essential Commodities Act, 1955.

Source: ForumIAS