Let ‘nowcasts’ precede our economic numbers

‘Nowcasting’ that captures data from early indicators could aid policymaking, especially in the face of high economic uncertainty. But it must supplement existing data, not supplant it

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Former Reserve Bank of India (RBI) Governor Y.V. Reddy once quipped, “In India, not only the future, but even the past is uncertain.” Reddy was making an important point in his own witty way.