FM Nirmala Sitharaman says government focusing on improving data credibility

By: |
Published: December 16, 2019 4:42:00 PM

The comments come months after the government has been accused of adopting faulty data computation methodologies which may throw up convenient conclusions.

Nirmala Sitharaman, GDP, inflation, employment,  macro economic data, National Statistical Commission, unemployment dataThe aspects which are being looked at include Gross Domestic Product (GDP), inflation and employment, she said.

Union Finance Minister Nirmala Sitharaman on Moinflationnday said the government is focusing on improving data credibility amid concerns over computing methodologies for various macro-economic data. The aspects which are being looked at include Gross Domestic Product (GDP), inflation and employment, she said.

The comments come months after the government has been accused of adopting faulty data computation methodologies which may throw up convenient conclusions. A group of over 100 economists had publicly written against such tendencies earlier this year.

Also read| Items not getting costlier anytime soon; FM Nirmala Sitharaman quashes GST rate hike fear

“Data is something which the government has been looking at … and making sure that any misgivings about the data will be addressed so that data from the government irrespective of whatever it reflects is going to be credible for people to accept,” she said, addressing the India Economic Conclave organised by Times Network through video conferencing.

She said the National Statistical Commission and the Ministry of Statistics and Programme Implementation are among the government agencies that are working on this aspect of data. “On the numbers, there is a lot of work going on,” she said. The minister, however, said that on unemployment, the government’s measure on jobs is not as good because of the informal sector. It can be noted that recently, the government’s official data had revealed unemployment to be at a four decade high.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1US trade negotiator hails ‘remarkable’ deal with China
2Major rejig of GST slabs unlikely for now
3Liquidity hit! Benefits to garment exporters held up