India's complex economy needs a more robust statistical system

The NSO did well to improve its labour force survey but more must be done to guide policy decisions

- HIMANSHU

Recent months have seen a flurry of data and report releases from the National Statistics Office (NSO). While some of these are routine surveys conducted by it, in some cases the NSO has made significant changes in the nature of data made available and the frequency of releases. India's statistical system had come under criticism for denying or delaying access to survey data. We have seen delays in updating the base year for key variables like the Consumer Price Index (CPI) and National Accounts, both of which have a base which is more than a decade old.

Improved survey coverage and data-release frequency would help generate confidence in our statistical system. But it is also essential for statistics to serve as inputs for economic analysis and policy formulation. Regular base-year updates for many macro variables are necessary, given the economy's dynamism.