Govt issues draft on new index calculation; other sectors to follow suit in phases.
With Indian statistics facing heavy criticism from all quarters in recent times, the Central Statistical Organisation (CSO), which is responsible for coordination of statistical activities in the country and evolving and maintaining statistical standards, will have to explore ways to reduce dependence on outsourced secondary data collection.
Rajiv Kumar will continue as vice-chairman of the body, along with other full-time members V K Saraswat, Ramesh Chand and V K Paul.
As many as 251 projects are delayed and 116 works were sanctioned without any commissioning schedule.
The government revised the economic growth rate for 2010-11 financial year slightly downto 8.4 per cent from the earlier estimate of 8.5 per cent.
The figure was arrived based on a comparison with the annual all-India CPI index average for the whole of 2010.
The data, to be compiled by the ministry of statistics and programme implementation, will bring out the proportion of population actively contributing to production of goods and services, also known as the labour force participation ratio, every quarter.
The Annual Survey of Industry, carried out by the Ministry of Statistics and Programme Implementation for the year 2008-09 shows that the growth in Gross Value Addition in the manufacturing industry nearly halved to 10.59 per cent from 20.12 per cent in 2007-08.
Some of the big names who decided to roll out the yoga mat
Facing embarrassment after throwing forward sharply different economic growth figures based on two different methodologies, the government will soon set the record straight on the pace of economic expansion.
The reshuffle in portfolios carried out by Prime Minister Manmohan Singh has apparently left some ministers unhappy, as some of them made their discontent clear through cynical remarks on Thursday. "I have forgotten that time (as a sports minister)...God has screwed my head in such a way that I can't look back and look forward." This is how M S Gill, who has been shunted out from the sports ministry to statistics and programme implementation, reacted.
Once seen as a spokesman of the government on internal security matters, Sriprakash Jaiswal was on Wednesday elevated to Cabinet rank and retained in the coal ministry. A three-time Lok Sabha member from Kanpur, Jaiswal's elevation to the Cabinet rank comes at a time when elections are scheduled in Uttar Pradesh, where he served as the state unit chief of the Congress. He has shed the portfolio of statistics and programme implementation.
Many feel that the money from their MPLADS should go directly to a district hospital in their respective constituencies rather than a central fund like PM CARES. Archis Mohan reports.
Gowda cited the Central government's directive, according to which hospitals have been asked to accept old currencies till November 24, but in vain.
The dry-run was being conducted in state capitals in at least three session sites. Some states also included districts that are situated in difficult terrain or have poor logistical support, according to officials.
Rs 7 lakh crore will be invested to develop for over 80,000 km of highways including Bharatmala project in the next five years
Congress President Sonia Gandhi on Saturday asked Minister of State for Coal, Statistics and Programme Implementation Sriprakash Jaiswal to make inquiries into the death of an 8-year-old Kanpur boy Aman Khan. The parents have blamed Prime Minister Dr Manmohan Singh's security for their son's demise and alleged that he died due to roadblocks erected during the prime minister's recent visit to Kanpur.
New chief statistician T C A Anant said on Monday hiking fuel prices was a better option than keeping them artificially low and widening the fiscal deficit, even as the Opposition organised a nationwide strike against the government's decision on Monday.
Wholesale price-based inflation, which dipped to sub-zero levels following the impact of the global crisis, has started firming up and rose to 7.3 per cent in December, 2009.
Leading indicators suggest economic activity has been disrupted after demonetisation.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
Sitharaman, who was holding the Commerce portfolio (Independent charge), was on Sunday promoted to the Cabinet rank as was Goyal.
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
The government admitted to cost overruns to the tune of Rs 50,295 crore (Rs 502.95 billion) in 268 of 578 ongoing projects, but did not give details of the timeframe for implementation.
The services sector contributes the highest of around 54 per cent to the country's gross domestic product. At present, the WPI, which is released every week, contains prices of primary articles, fuel and manufactured products. Data from banking and transport services would be the first sectors to be covered on an experimental basis. The plan is to initially build a separate services index, which would be integrated into the WPI later.
The technical report of the NSSO has generated controversy following its observation that as much as 36 per cent units forming part of MCA-21 database, used in computing GDP, could not be either identifiable or traceable in the field.
Union Health Minister Harsh Vardhan on Thursday said the government was aiming to bring down India's Covid-19 mortality rate to less than 1 per cent from the current 1.64 per cent, which is still the lowest in the world.
As a well-wisher of the Indian Statistical System and part of the system for more than 37 years, Sunil K Sinha, former DG and CEO of NSSO, offers suggestions to improve data quality.
Currently, the retail inflation is well below the RBI's comfort level. The government has asked the central bank to keep inflation in the range of 4 per cent.
Strangely, no consolidated figures on infrastructure investments made on ground are ever disseminated by any official arm of the Government of India.
The Gross National Income (GNI) at 2011-12 prices is now estimated at Rs 112.13 trillion as against Rs 112.14 trillion estimated earlier for 2015-16.
The NSSO had enumerated 79,306 households in rural areas and 45,374 in urban regions.
The government on Monday admitted in Rajya Sabha that almost half of 951 central sector projects are delayed resulting in cost overrun to the tune of over Rs 40,000 crore (Rs 400 billion).
Rediff Labs shows the number of both domestic and foreign tourists visiting each state in 2015 and its growth rate.
The government's decision to release the reports comes two days after over 200 scholars from across the globe issued a statement demanding release of all withheld reports produced by the NSO, including the household consumer expenditure survey that was junked.
The findings of the report showed consumer spending falling for the first time in over four decades in 2017-18. The government has, however, termed it a "draft" report, reports Somesh Jha.
The finance ministry and Reserve Bank of India have reservations on the computation of inflation data on a monthly basis, a senior government official said on Thursday. Finance Minister P Chidambaram will have to meet the Reserve Bank to reach a consensus on the committee's suggestions to have a new series of WPI on a monthly basis, he said on the sidelines of a function to release the results of the Fifth Economic Census.
Only 18 per cent of Indian companies have implemented regulatory compliance programmes, which is lower than the Asia Pacific average of 42 per cent, according to a recent survey.
The Congress, Left parties, Trinamool Congress and some others were in the forefront of this attack on the government, which is set to garner around Rs 7,900 crore through the decision.
Congress President Sonia Gandhi has pulled up the central government for slow implementation of the UPA's 20-point programme, sources in the government say.
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