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The Central Board of Direct Taxes (CBDT) in June 2013 has specified a value for the cost inflation index of 2013-14- In this regard. Which of the statements given below is/are correct?
1- There has been a rise in the cost inflation index over the year 2012-13.
2- The cost inflation index helps in reducing the inflationary gains, thereby reducing the long-term capital gains tax payout for a taxpayer.