The Reserve Bank of India Governor, Shaktikanta Das, stated in his keynote address at the Statistics Day Conference on June 29, 2022, that the gathering and disseminating real sector statistics in the post-Covid era had undergone a significant transformation. These include replacing in-person data collection with telephone polling.
Governor has urged for regional elements to be added to several macro metrics now gathered at the national level. He said that global regulators are striving to identify and close data gaps in assessing climate change risks, which are now deemed essential for macroeconomic policy formulation and micro-financial stability.
” The statistical innovation resulting from Covid disruptions will have long-term advantages. “At the same time, the upheaval posed a challenge for statistical organizations to increase public confidence in the resulting numbers,” stated Das.
As individuals strive for more excellent living conditions, more indices are emerging, according to the RBI Governor. “happiness indices and ‘inequality indices’ have been proposed, and many national and international organizations are compiling them.
“Because of its size and geographical variety, India requires regional indices of national performance. We should strive for greater granularity, consistency, and validation. He stated that the RBI views information as a “public benefit.”