Statistics ministry rebuts RBI's doubts over new GDP series | Business Standard News

Statistics ministry rebuts RBI's doubts over new GDP series | Business Standard News

My VIEW:

As RBI has to base policy decisions on hard data, it is imparative that the central bank gets information that is convincingly credible. Fortunately, RBI and CSO have experts who can sort out issues and MoSPI need to take the responsibility to ensure a system which will compile and generate reliable statistics on an ongoing basis and figures which are not stale are made available to organisations like RBI whose policy perceptions have much to do with the resources mobilisation and deployment of scarce resources including finance.

Meanwhile, political leadership and social organisations should get involved in development initiatives at the grass-root level so that non-availability of minimum livelihood conditions gets highlited fast and addressing issues like families going without minimum nutrition, shelter, potable water, toilet facilities education facilities and electricity are not made to wait for the results of census reports to get subventions from government. A recent media report mentioned that 30 crores of Indians are still waiting to get electricity.

M G Warrier

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