Transcript Assessment of Statistical Quality of Real Sector Data

Short-term Economic Statistics
Published by CSO, India
Ramesh Kolli
Deputy Director General
Central Statistical Organisation
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Indian Statistical System
• Broadly decentralised - subject-wise as well as
state-wise
– in accordance with the federal nature of the system of
government in the country
• The MoSPI is the nodal agency for all statistical
activities at all-India level.
• The State Directorates of Economics and Statistics
(DESs) coordinate statistical activities at State
level and keep liaison with MoSPI
• Respective Central Ministries coordinate with
their counterpart Departments at State level
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Indian Statistical System…
• Large-scale statistical operations are largely
Central activities
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Population Census
Economic Census
Agricultural Census
Livestock Census
nation-wide sample surveys
compilation of
• national accounts
• price indices
• industrial production
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Work Programme of MoSPI
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National Accounts Statistics
Industrial Statistics
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Monthly index of industrial production
Results of Annual Survey of Industries
Compendium on energy statistics
Reports on Economic Census
Social Statistics
– Selected Socio-Economic Statistics, India
– Women and Men in India
– Compendium of Environment Statistics
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Price Statistics
Sample Surveys
General publications
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Monthly Abstract of Statistics
Statistical Abstract
Statistical Pocket Book
India in Figures
Guide to Official Statistics
Directory of Statistics, India
Statistical System in India
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Special Data Dissemination
Standards
• India is a subscriber since December 1996
• Overall coordinator –M/Finance
– Real sector - MoSPI
– Fiscal sector – MoF
– External and Financial - RBI
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Short-term Economic Statistics
coordinated by the MoSPI
• National Accounts
– Quarterly GDP estimates – timeliness of 2 months, except Q1 (3 months)
• Production Index
– Monthly Index of industrial production (IIP) – separately for mining,
manufacturing and electricity (timeliness of 42 days)
• Prices
– Weekly Wholesale Price Index (WPI) (timeliness of 2 weeks)
– Monthly Consumer Price Index for industrial workers (CPI-IW)
(timeliness of one month)
– Monthly Consumer Price Index for Agricultural/Rural Labourers (CPIAL/RL) (timeliness of 20 days)
– Monthly Consumer Price Index for Urban Non-Manual Employees (CPIUNME) (timeliness of 25 days)
• Labour Market
– Labour market data is compiled once in 5 years through a full scale
sample survey and annually through a thin sample survey. - ‘as relevant’
option.
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Monthly Abstract of Statistics
• monthly production of selected minerals and industries
• consumption and stocks of selected raw materials and
manufactured goods
• performance of railways, civil aviation, ports and shipping,
postal and telecommunication
• tourist arrivals in India
• foreign trade
• quantum index numbers and unit value index numbers of
imports and exports
• banking sector
• monthly accounts of central government
• new registrations and liquidations of joint stock companies
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Monthly Capsule Report on
Infrastructure Performance
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Power
Coal
Steel
Railways
Cargo handled at major ports
Telecommunications (addition in switching capacity, telephone
connections and cell phone connections)
Fertilizers
Cement
Petroleum (crude oil, refinery and natural gas)
Civil aviation (export cargo handled, import cargo handled, passengers
handled at international terminals, passengers handled at domestic
terminals)
Roads (upgradation of highways).
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Short-term Economic Statistics
released by the RBI
• RBI releases a number of publications - weekly, monthly,
quarterly, half-yearly, annual and occasional
• covering fiscal, financial and external sector statistics
• also include data released by other agencies on real and
fiscal sectors
• RBI also maintains data warehouse, Database on Indian
Economy Economy covering :
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Financial Sector
Real Sector
Financial Market
External Sector
Public Finance
Corporate Finance
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Monthly RBI Bulletin
• Releases statistics on 51 items, under:
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Current Statistics General
Money and Banking
Government Accounts
Government Securities Market
Production
Capital Market
Prices
Trade and Balance of Payments
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Weekly Statistical Supplement
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Reserve Bank of India - Liabilities and Assets
Foreign Exchange Reserves
Scheduled Commercial Banks - Business in India
Cash Reserve Ratio and Interest Rates
Accommodation Provided by Scheduled Commercial Banks to Commercial Sector in the form of
Bank Credit
Foreign Exchange Rates - Spot and Forward Premia
Money Stock : Components and Sources
Reserve Money : Components and Sources
Repo/Reverse Repo Auctions under Liquidity Adjustment Facility
Auctions of Government of India Treasury Bills
Cumulative Cash Balances of Scheduled Commercial Banks with Reserve Bank of India
Certificates of Deposit Issued by Scheduled Commercial Banks
Commercial Paper Issued by Companies (At face value)
Index Numbers of Wholesale Prices
BSE Sensitive Index and NSE Nifty Index of Ordinary Share Prices - Mumbai
Average Daily Turnover in Call Money Market
Turnover in Government Securities Market (Face Value)
Turnover in Foreign Exchange Market
Weekly Traded Volume in Corporate Debt at NSE
Government of India : Treasury Bills Outstanding (Face Value)
Government of India : Long and Medium Term Borrowings
Secondary Market Transactions in Government Securities (Face Value)
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Short-term Economic Statistics
released by MoF & others
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Ministry of Finance
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Department of Commerce
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production of agricultural crops
Ministry of Labour and Employment
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weekly wholesale price index
production of 6 infrastructure industries
Ministry of Agriculture
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Imports and exports
Department of Industrial Policy and Promotion
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Central Government operations
Central Government Debt
consumer price index numbers for industrial workers
agricultural rural labourers
wages
employment
Ministry of Petroleum and Natural Gas
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production of crude petroleum and natural gas
refinery production/capacity utilization
prices
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Status of data on some indicators
• Sales and Production of Automobiles
– production – MoSPI
(i) commercial vehicles, (ii) passenger cars, (iii) jeep
type vehicles, (iv) scooter and mopeds, (v) auto
rickshaws, (vi) motor cycles and (vii) bicycles
– Production, sales and exports – SIAM
commercial vehicles, cars, utility vehicles, two and
three wheelers
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Prices for Energy Sector
• Ministry of Petroleum and Natural Gas
– oil prices and taxes
• Labour Bureau
– monthly prices of Kerosene
• Department of Industrial Policy and Promotion
– WPI
• coking coal, non-coking coal, coke, lignite, liquefied petroleum
gas, petrol, kerosene, aviation turbine fuel, high speed diesel
oil, light diesel oil, naptha, bitumen, furnace oil, lubricants,
electricity (separately for domestic, commercial, agriculture,
industry and railway traction)
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Labour Statistics
• MoSPI
– Large scale sample surveys on employment,
unemployment and wages, once in 5 years
– Thin sample surveys every year
• Ministry of Labour and Employment
– employment in the organized sector
– minimum wages
– wage rates in rural India
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Building Statistics
• Population Census
• National Sample Surveys
• National Buildings Organisation
– building permits and completion certificates
issued during a year from all towns with
100,000 or more population
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Other aspects
• Relevance of existing international standards for India
– India attaches importance to these
– Subscribed to SDDS from the beginning
– Follows international classifications and other standards
• Links with Ministries of Finance, Central Bank and other Departments
– Allocation of business rules of Government of India
– Departments share databases
• Processes for identifying the requirements of users
– Advisory Committees, Governing Council
• Accessibility
– Simultaneous release; all publications on internet site of MoSPI
• Transparency in the production of statistics
– Methodlogical notes, Metadata pages, ARC
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Revisions in some of the Short
Term Economic Statistics
• QGDP
– Quarterly GDP estimates/sectoral growth rates are not revised till the
release of Q4 data (Q1, Q2 and Q3 growth rates are revised first time with
Q4 data)
– Thereafter, Quarterly GDP estimates are revised only alongwith the
corresponding annual estimates
• IIP
– 1st, 3rd and 4th months
• CPI
– Not revised
• WPI
– Finalised after 8 weeks
• Merchandise trade
– Finalised after 8 months
• Balance of payments
– Finalised after 18 months
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Short-term Economic Statistics –
future plans
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Quarterly GDE estimates
– Absence of (i) quarterly enterprise surveys, (ii) quarterly retail trade statistics, and
(iii) quarterly general government accounts
– use tax data, corporate sector’s quarterly financial results and quarterly data on
government’s expenditures
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Producer prices
– To run parallelly for some time the two series, WPI and PPI
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Index of Service Production
– (i) business register preparation based on the recent Economic Census conducted in
the country (2005) and the economy-wide surveys using this register as frame, (ii)
tax data collected by the States, (iii) quarterly financial results announced by
companies listed on the stock exchanges, and (iv) data on physical indicators of
various services sectors, presently released by the respective administrative
Ministries
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Quarterly Labour Market data
– Sub-round-wise data collected
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Seasonally adjusted data
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Thanks
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