19 Sep 2014
Need to revamp economic data measurement methods

Wide fluctuations and sharp revisions in macro-economic data like GDP, industrial output and inflation raises questions over the credibility of these numbers. In the past couple of years there have been sharp and multiple revisions in economic growth, industrial output, foreign trade and inflation data. Moreover, a wide fluctuation in these data on month-on-month or quarter-on-quarter basis has dented the credibility.