How has India recalibrated its socio-economic markers
India is exercising its right to unbiased estimates. What steps has the country taken to recalibrate its socio-economic markers?
- Switching to a new base year for its GDP calculation: In 2015, India shifted its base year for calculating Gross Domestic Product (GDP) from 2004-05 to 2011-12. This helped to more accurately capture changes in the economy and reflect the current economic reality of the country.
- Introducing new survey methodologies: India has implemented new survey methodologies, including the use of computer-assisted personal interviewing and global positioning systems, to improve the accuracy of its data collection. This has helped to reduce errors and provide more reliable estimates.
- Improving data sharing between government departments: India has taken steps to improve the sharing of data between different government departments and agencies. This has helped to reduce duplication and improve the accuracy of estimates.
- Strengthening its statistical infrastructure: India has invested in strengthening its statistical infrastructure, including the creation of a National Data Warehouse on Agriculture, which provides a centralized source of data on agriculture across the country.
- Enhancing transparency and accountability: India has taken steps to enhance transparency and accountability in its data collection process. For example, the government has established a National Statistical Commission to oversee the collection and dissemination of statistical information.
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