Data credibility and economic growth

23 DEC,2019 | MEDC


 

 

The credibility of official data released has lately been taking a hit. The time has come to ask some fundamental questions regarding India’s statistical systems. Operational issues abound, but of greater concern are the methodological issues. With the private sector luring away many talented employees, while the staff shortages in government research institutes are indeed a matter of concern, the bigger fear is that our present statistical methodology may not be sophisticated enough to capture some of the key structural transformations currently underway. Many independent researchers have started questioning official statistics, and their legitimate concerns need to be addressed. The structure of our economy is changing, and unless we suitably alter the accompanying statistical tool kit, there are going to be credibility issues with the calculation of growth and other key macroeconomic indicators.

 

*Photo Credit: Google

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