Chennai: To improve the quality of macro-economic aggregates leveraging big data analytical tools, the Statistics Ministry has said it proposes to set up a “National Data Warehouse”.
Efforts are also on to evolve a legislative framework under which the National Statistical Commission (NSC) may function with independence and give holistic guidance for improving the national statistical system, the Ministry of Statistics and Programme Implementation (MoSPI) said.
In its release, the Ministry said as far as the statistical reforms are concerned, it is important to note that system reforms are an ongoing process and are necessary for ensuring responsiveness to the changing needs of society.
“Over a period of time, there have been increasing demands on the statistical system for the production of relevant and quality statistics. The Ministry has been accommodating these demands by optimising the available resources and use of technology,” it said.
As in any system, it further said, the advent of technology necessitates reforms in statistical processes and products with an aim to synergise the existing resources so that the system remains responsive.
The recent step for the merger of CSO and NSSO was aimed at leveraging the strengths of the two organisations so that it can meet the increasing demands, MoSPI said. The Ministry has been criticised in some sections for the quality of macro-economic data.
The Ministry said revision in GDP estimates occur when data coverage from administrative sources improves over time and these improvements get well documented.
Consequently, the initial estimates of GDP tend to be conservative. To improve this, the release said it would require concomitant changes in the sectoral data flows and associated regulatory framework in the data source agencies to facilitate the use of more macro modelling techniques.
“The Ministry is also proposing to establish a National Data Warehouse on Official Statistics, where technology will be leveraged for using Big Data Analytical tools for further improving the quality of macro-economic aggregates,” it said.
As all these reforms are an ongoing process, it is important that the readers and users understand and appreciate the limitations of data and the challenges in estimation.
“While undertaking these reforms, it is important to realise that newer data sets and survey results will invariably be used and it would be incorrect to comment that old processes were better than the new,” it said.
The reforms being undertaken in MoSPI will lead to better data sets and better estimates in future, and will be duly deliberated on by the ACNAS during the Base Year revision, it added.
| Trajectory |
| The Indian software market is expected to grow at a year-on-year (YoY) rate of 13.7 per cent and touch $6.1 billion by the end of the year, a report by the International Data Corporation (IDC) said.
According to the IDC’s ‘Asia Pacific Semiannual Software Tracker’ (excluding Japan), H2 2018, India maintained its leadership position as one of the top three contributors in the APeJ region’s software market, accounting for 12 per cent of the overall market. “Indian organisations are increasingly looking at harnessing big data and business analytics toincrease competitive advantage. There is a renewed thrust on modernising and evolving enterprise applications and accelerating Cloud-related initiatives,” the report said. |