Reserve Bank of India Statistics Day- Governor's Inaugural Address

The third Annual Statistics Day Conference of the Reserve Bank. It has now become a tradition for to mark the Statistics Day as a tribute to late Professor P.C. Mahalanobis and his colossal contribution to the development of statistics in India. Three challenges in the area of statistical analysis and interpretation of those: 1)what steps do the official data agencies need to take to ensure that data are comprehensive, consistent and timely? 2) It is important that the various indices such as WPI or IIP, which attempt to capture the underlying developments in the economy, are refined and updated on a continuous basis to provide timely information to the policymakers. 3)help manage expectations and perceptions better by focussing attention on data standards as well as improving the quality of our statistics education. [Inaugural address delivered at the third Annual Statistics Day Conference of the Reserve Bank at Mumbai]