The IMF’s critique of India’s economic statistics is not a cause for alarm but a cue to improve data quality
Timely and reliable data is the bedrock of sound policy formulation. India’s periodic labour force survey is now done every month, offering a better picture of unemployment, while the survey of unincorporated enterprises provides a clearer snapshot of a large chunk of the economy. Unlike earlier, when informal sector data was picked up only at the time of base revision, it will now be done regularly, helping make GDP estimates more robust.
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