The nation ought to maintain frequent surveys on family consumption expenditure to make sure the newest data for base revision of Client Value Index (CPI) and different macroeconomic indicators, economists and forecasters prompt at a convention organised by the statistics ministry.
The convention, organised by the Ministry of Statistics and Programme Implementation in Mumbai on Wednesday, was joined by greater than 50 forecasters and economists of varied organisations. It was attended by Chief Financial Advisor V Anantha Nageswaran; Ajay Seth, secretary within the division of financial affairs, Nilesh Shah, member of the financial advisory council to the Prime Minister, and economists Ganesh Kumar and Ila Patnaik.
“Of the foremost ideas rising [in the conference], frequent Family Consumption Expenditure Surveys could also be performed to make sure frequent base revision of Client Value Index and different macro-economic indicators,” stated a press release by the statistics ministry on Wednesday
“[Besides] chance of higher protection of companies within the revised collection of CPI could also be explored. Employer-provided dwellings could also be excluded from CPI to make sure consistency within the information. The methodology for compilation of Housing index could also be re-visited. Requests for frequent such interactions, to know the methodologies of information assortment of schooling, well being companies and information for housing index, had been additionally made,” it stated.
Convention members prompt giving emphasis on the spatial dimension of GDP when it comes to dis-aggregations like city /rural, district home product, together with having a uniform understanding of core inflation for which the statistics ministry could discover compilation of core inflation
It was prompt that the discharge time of indices could also be modified to supply adequate time for evaluation by customers on the identical day.
First Revealed: Sep 25 2024 | 1:48 PM IST