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Tuesday, May 18, 2021

With eye on improving quality of macro-economic aggregates, MoSPI to set up ‘National Data Warehouse’

On the Gross Domestic Product (GDP) estimates, the Ministry said the revision in GDP estimates occurs when data coverage from administrative sources improves over time and these improvements get well documented.

By: ENS Economic Bureau | New Delhi |
Updated: June 11, 2019 3:30:32 am
Ministry of Statistics, National Data Warehouse, big data, National Policy on Official Statistics, National Statistical Commission, Indian express Efforts are on to evolve a legislative framework under which the National Statistical Commission (NSC) may function with independence and give holistic guidance for improving national statistical system, the Ministry Statistics and Programme Implementation said. (Representational Image)

The Ministry of Statistics and Programme Implementation (MoSPI) has proposed to set up a ‘National Data Warehouse’ wherein big data analytical tools will be leveraged to further improve the quality of macro-economic aggregates, the Ministry said Monday. The MoSPI is also redrafting the National Policy on Official Statistics (NPOS), which it said it had earlier placed in public domain.

Efforts are also on to evolve a legislative framework under which the National Statistical Commission (NSC) may function with independence and give holistic guidance for improving the national statistical system, the Ministry said. On the issue of restructuring in official statistics system, the Ministry said it’s “giving an increased focus on Data Quality and Assurance by repositioning the existing data processing personnel”.

“As far as the statistical reforms are concerned, it is important to note that system reforms are an ongoing process and are necessary for ensuring responsiveness to the changing needs of society,” it said.

It also said the advent of technology necessitates reforms in statistical processes and products, with an aim to synergise the existing resources so that the system remains responsive. MoSPI, in an order on May 23, had cleared the merger of NSSO and CSO under National Statistical Office (NSO).

On the Gross Domestic Product (GDP) estimates, the Ministry said the revision in GDP estimates occurs when data coverage from administrative sources improves over time and these improvements get well documented.

It said the International Monetary Fund (IMF) had raised certain issues on the usage of double deflation in the Indian GDP series and India has informed IMF that the existing data availability does not permit its application at present.

Referring to media reports which cite the changes in GDP growth and result in varying outcomes obtained by different authors from their own distinct assumptions, MoSPI said “it was because of such views that the Advisory Committee on National Accounts Statistics (ACNAS) had not agreed to the use of the double deflation at present stage. Moreover, double deflation is used in only a few countries that have a Producers Price Index (PPI) to deflate the inputs. MoSPI is working closely with Ministry of Commerce and Industry to have the methodology for the PPI finalised.”

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