Remove the haziness

The statistics ministry's efforts to plug data gaps are commendable

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It's reassuring that the government is acting on multiple fronts to bolster the assorted macro- and socioeconomic data sets, and dispel any misgivings about their inadequacy or reliability as inputs for policy-making. Revisions of the base years of the gross domestic product and the Index of Industrial Production are underway. The Consumer Price Index (CPI) basket and the relative weights of each item in the index are set to undergo revisions too, in keeping with the change in consumption pattern captured under the Household Consumer Expenditure Survey (HCES) 2023-24. The new CPI series, to be released from early 2026, would hopefully address concerns about the incongruity between the evolving consumption scenario and the index, the go-to source for the Reserve Bank of India for its inflation-targeting framework.