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  1. 1. 1 Short-term Economic Statistics Published by CSO, India Ramesh Kolli Deputy Director General Central Statistical Organisation
  2. 2. 2 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
  3. 3. 3 Indian Statistical System… • Large-scale statistical operations are largely Central activities – Population Census – Economic Census – Agricultural Census – Livestock Census – nation-wide sample surveys – compilation of • national accounts • price indices • industrial production
  4. 4. 4 Work Programme of MoSPI • National Accounts Statistics • Industrial Statistics – 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 • Price Statistics • Sample Surveys • General publications – Monthly Abstract of Statistics – Statistical Abstract – Statistical Pocket Book – India in Figures – Guide to Official Statistics – Directory of Statistics, India – Statistical System in India
  5. 5. 5 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
  6. 6. 6 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 (CPI- AL/RL) (timeliness of 20 days) – Monthly Consumer Price Index for Urban Non-Manual Employees (CPI- UNME) (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.
  7. 7. 7 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
  8. 8. 8 Monthly Capsule Report on Infrastructure Performance • 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).
  9. 9. 9 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 : – Financial Sector – Real Sector – Financial Market – External Sector – Public Finance – Corporate Finance
  10. 10. 10 Monthly RBI Bulletin • Releases statistics on 51 items, under: – Current Statistics General – Money and Banking – Government Accounts – Government Securities Market – Production – Capital Market – Prices – Trade and Balance of Payments
  11. 11. 11 Weekly Statistical Supplement • 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)
  12. 12. 12 Short-term Economic Statistics released by MoF & others • Ministry of Finance – Central Government operations – Central Government Debt • Department of Commerce – Imports and exports • Department of Industrial Policy and Promotion – weekly wholesale price index – production of 6 infrastructure industries • Ministry of Agriculture – production of agricultural crops • Ministry of Labour and Employment – consumer price index numbers for industrial workers – agricultural rural labourers – wages – employment • Ministry of Petroleum and Natural Gas – production of crude petroleum and natural gas – refinery production/capacity utilization – prices
  13. 13. 13 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
  14. 14. 14 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)
  15. 15. 15 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
  16. 16. 16 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
  17. 17. 17 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
  18. 18. 18 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
  19. 19. 19 Short-term Economic Statistics – future plans • 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 • Producer prices – To run parallelly for some time the two series, WPI and PPI • 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 • Quarterly Labour Market data – Sub-round-wise data collected • Seasonally adjusted data
  20. 20. 20 Thanks