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Informist, Tuesday, Jul 23, 2024

--To actively use tech for better data governance

NEW DELHI – The government will use sectoral databases along with technological tools to improve data governance, collection, processing, and management of data and statistics, Finance Minister Nirmala Sitharaman said today.

"For improving data governance, collection, processing and management of data and statistics, different sectoral databases, including those established under the Digital India mission, will be utilised with active use of technology tools," Sitharaman said, while presenting the Union Budget for 2024-25 (Apr-Mar) in Parliament.

On Monday, the Economic Survey for 2023-24 stated that India needs to expedite the revision of economic indicators such as Consumer Price Index, gross domestic product, and Index of Industrial Production. The government should also expedite the introduction of the Producer Price Index to "have a greater grasp of episodes of cost-push inflation", the survey said.

With India looking to become a developed economy by 2047, it is important that the statistics ministry is capacitated fully to produce and integrate all required statistics with the desired quality, regularity and timeliness, the survey said.  End

Reported by Shubham Rana

Edited by Avishek Dutta

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