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The Index of Core Industries (ICI) has finally joined the country’s other economic metrics in becoming up-to-date and representative of the economy. The other metrics such as the national accounts, Consumer Price Index (CPI), Wholesale Price Index (WPI), and the Index of Industrial Production (IIP) were updated earlier this year, although even those were after…
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India is all set to launch high frequency dataset to capture the formal segment of the services sector, supporting evidence-based policymaking, amid data quality concerns due to the inherent heterogeneous nature of variables and partial or under coverage of the vast informal segment. Joining the league of Japan, South Korea, China and the European Union,…
Read More “Why does India need an Index of Services Production? | Explained” »
India’s latest industrial growth figures show that, contrary to global trends and overall perception, the country’s industrial output is getting stronger. Notably, the data show a quick bounce-back in industrial performance after the initial hit from the West Asia crisis. However, the new data also raise some important concerns about the composition of the growth,…
The story so far: Last November, the Indian government received a ‘C’ grade, the second-lowest grade, by the International Monetary Fund for the quality of its national accounts statistics. Over the last few months, it has made several upgrades to its statistical databases, improving their timeliness, representativeness, accuracy, and coverage. These improvements have been wide-ranging,…
Read More “Why have India’s statistical databases been upgraded? | Explained” »
The government has, in recent months, implemented several long-overdue but welcome upgrades to India’s statistical databases. Wide-ranging, they cover the way the country measures Gross Domestic Product (GDP), industrial production, and price changes at the retail, wholesale, and producer levels. These updates have not only made India’s key economic statistics more representative of reality, but…
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Earlier this week, the Ministry of Statistics and Programme Implementation released the latest Index of Industrial Production (IIP), a key barometer of India’s industrial health. The April 2026 print assumes added significance as it is the first release under the new 2022-23 base series and the second full month following the U.S.-Israeli war on Iran….
Read More “Base and framework: On the latest Index of Industrial Production” »
The retail inflation data for October once again underscore the fact that the update of the Consumer Price Index (CPI) cannot happen fast enough. The data show that the rate of overall inflation fell to just 0.25%, the lowest it has been since at least January 2012. On the face of it, this would be…
Read More “Urgent update: On the India’s Consumer Price Index” »
This image is used for representational purpose only. | Photo Credit: Getty Images/iStockphoto The Ministry of Statistics and Programme Implementation is all set to conduct two key economic surveys — to measure household finances and to gauge the economic situation of India’s farmers — between July 2026 and June 2027, the Ministry announced on Thursday…
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The Index of Industrial Production (IIP), the nation’s monthly barometer of goods output, revealed a 10-month low growth rate in June, at 1.5%, largely due to the sharp contraction in mining activity, by –8.7% (10.3% in June 2024), and electricity output, by –2.6% (8.6% in June 2024). The early onset of the southwest monsoon, with…
Read More “Interrupted growth: On economic activity, climate-related events ” »
Inflation in consumer prices eased to a nearly five-year low of 3.54% in July, with food price rise moderating to 5.4% from a six-month high of 9.4% in June, thanks to base effects from last July when retail inflation stood at 7.4% and the food index was up 11.5%. File | Photo Credit: Sushil Kumar…
Read More “Consumer price inflation eases to five-year low of 3.54% in July” »