India to conduct long-delayed census and improve economic data

India's government is -poised to enhance the accuracy and relevance of its economic data, with plans including the commencement of a long-overdue population census, according to insiders familiar with the matter.

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The Statistics Ministry has tabled several proposals, deliberated upon by Prime Minister Narendra Modi's office over the past month, aimed at bolstering the quality and frequency of economic data releases, sources said on condition of anonymity due to the confidentiality of the discussions.

These proposals encompass the revival of business surveys, last conducted in 2014, and the publication of household consumption surveys on an annual basis, the sources disclosed. Additionally, the government intends to introduce a uniform base year for key economic indicators and update the basket of goods used to calculate inflation, they added. In a separate initiative, the government is contemplating conducting a new population census once elections conclude, sources revealed. Typically conducted every decade, the last census was published in 2011, with the subsequent survey delayed due to the COVID-19 pandemic.

Economists have long advocated for a comprehensive overhaul of India's statistical methods, citing concerns about data quality, particularly as the country's economy grows rapidly and garners increased global investor interest.