Basic Economic Data of India | Complete Information

Ministry of Law and Justice (India)
Ministry of Law and Justice (India)

Economic data of India: economic statistics are data (quantitative measures) describing an actual economy, past or present. Such data include Gross National Product and its components, Gross National Expenditure, Gross National Income in the National Income and Product Accounts, and also the capital stock and national wealth

MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION (MoSPI)

  • The Ministry of Statistics and Programme Implementation (MoSPI) came into existence as an independent ministry in 1999 after the merger of Department of Statistics and Department of Programme Implementation.
  • The Ministry has two wings, one relating to statistics and the other relating to programme implementation.
  • The Statistics Wing re-designated as National Statistics Office (NSO), consists of the Central Statistical Office (CSO) and the National Sample Survey Office (NSSO).
  • The Programme Implementation Wing has three divisions, namely: (i) twenty point programme, (ii) infrastructure and project monitoring, and (iii) Members of Parliament Local Area Development Scheme.

INDIAN STATISTICAL INSTITUTE (ISI)

  • Indian Statistical Institute (ISI) is an autonomous institute declared as an institute of national importance by an Act of Parliament.

NATIONAL STATISTICAL COMMISSION

  • The National Statistical Commission (NSC) was set up in 2005 on the recommendation of the Rangarajan Commission to serve as a nodal body for all core statistical activities of the country and to ensure statistical coordination.
  • It has one part-time Chairperson and four part-time members. Besides, Secretary, Planning Commission is an ex-officio member of the Commission.
  • The Chief Statistician of India is the Secretary to the Commission. He is also the Secretary to the Government of India in the Ministry of Statistics and Programme Implementation.

CENTRAL STATISTICS OFFICE (CSO)

  • The Central Statistics Office (CSO), an attached office of the Ministry, coordinates the statistical activities in the country and evolves statistical standards.
  • Its activities inter-alia, include compilation of national accounts, index of industrial production, consumer price indices (urban/rural/ combined), human development statistics and preparation of the National Industrial Classification.

ANNUAL SURVEY OF INDUSTRIES

  • The Annual Survey of Industries (ASI) is the principal source of industrial statistics in India.
  • The ASI extends to the entire country. It covers all factories registered under Sections 2 m (i) and 2 m (ii) of the Factories Act, 1948, where the manufacturing process is defined under Section 2 (k) of the said Act.
  • Details the survey also covers bidi and cigar manufacturing establishments registered under the Bidi and Cigar Workers (Conditions of Employment) Act, 1966.
  • All the electricity undertakings engaged in the generation, transmission and distribution of electricity, not registered with the Central Electricity Authority (CEA) are also covered under ASI.
  • However, defence establishments, oil storage and distribution depots, departmental units such as railway workshops, government mints, sanitary, water supply, gas storage, etc., are excluded from the purview of the survey.

INDEX OF INDUSTRIAL PRODUCTION

  • Index of Industrial Production (IIP) is released by CSO every month in the form of Quick Estimates with a time-lag of 6 weeks as per the Special Data Dissemination Standard (SDDS) norms of IMF.
  • The base year of all-India IIP was revised from 2004-05 to 2011-12 and the new series was launched in 2017.
  • Apart from breakup of the index in three sectors, viz., mining, manufacturing and electricity, the estimates are also simultaneously released as per use-based classification viz., primary goods, intermediate goods, infrastructure construction goods and consumer durables and consumer non- durables.
  • The major source of data for IIP is the Department of Industrial Policy and Promotion that supplies data for item groups with a weight of 47.54 percent in overall IIP.

NATIONAL SAMPLE SURVEY OFFICE

  • The National Sample Survey Office (NSSO), in the Ministry of Statistics and Programme Implementation, is responsible for conduct of large scale sample surveys, in diverse fields, on all India basis.
  • The Director General (Survey) is responsible for overall coordination and supervision of all activities of NSSO.

PRICE DATA COLLECTION

  • Wholesale Price Index (Outgoing): Wholesale Price Index (WPI) is used as an important measure of inflation in India. Fiscal and monetary policy changes are greatly influenced by changes in WPI.
  • Consumer Price Index: The CSO, Ministry of Statistics started releasing state/UT-wise as well as All India Consumer Price Indices (CPI) separately for rural, urban and combined (rural plus urban) for the purpose of temporal price comparison. CSO revised the base year of CPI from 2010 to 2012 and the revised series was launched in 2015.
  • Rural Retail Price Collection (RPC):
    • The data on rural retail prices are collected by Field Operations Divisions (FOD) regularly for compiling the consumer price index (CPI) for agricultural labourers/rural labourers on behalf of the Labour Bureau, Ministry of Labour and Employment. Department of Agricultural Research and Education (DARE) and
    • At present, the Labour Bureau compiles and publishes the CPI for agricultural labourers/rural labourers.

TWENTY POINT PROGRAMMES

  • The Twenty Point Programme (TPP) – initiated in 1975 and restructured in 2006 – aims to eradicate poverty and improve the quality of life all over the country.
  • The Programme originally consisted of 20 points and 66 items.
  • One of the 66 items viz., ‘Sampoorna Grameen Rojgar Yojana (SGRY)’ has since been subsumed into another item namely Mahatma Gandhi National Rural Employment Guarantee Act.
  • The Ministry of Statistics and Programme Implementation monitors the programmes/schemes covered under TPP-2006.

MEMBERS OF PARLIAMENT LOCAL AREA DEVELOPMENT SCHEME

  • The Members of Parliament Local Area Development Scheme (MPLADS) was launched in 1993.
  • Initially, Ministry of Rural Development was the Nodal Ministry for this scheme. In October, 1994 this scheme was transferred to the Ministry of Statistics and Programme Implementation.
  • The Scheme is fully funded by the Government of India under which funds are released in the form of grants-in-aid directly to the district authorities.
  • The funds released under the Scheme are non-lapsable, i.e., the entitlement of funds not released in a particular year is carried forward to the subsequent years, subject to eligibility.
  • At present, the annual entitlement per MP/ constituency is ₹ 5 crore.
  • Under it, the role of the Members of Parliament is limited to recommend works. Thereafter, it is the responsibility of the district authority to sanction, execute and complete the works recommended within the stipulated time period.
    • The elected Lok Sabha Members can recommend works in their respective constituencies.
    • The elected members of the Rajya Sabha can recommend works anywhere in the state from which they are elected.
    • Nominated Members of the Parliament can recommend works for implementation, anywhere in the country.
  • MPLADS works can be implemented in areas affected by natural calamities like floods, cyclone, hailstorm, avalanche, cloudburst, pest attack, landslides, tornado, earthquake, drought, tsunami, fire and biological, chemical, radiological hazards, etc.
  • In order to accord special attention to the development of areas inhabited by Scheduled Castes (SCs) and Scheduled Tribes (STs), 15 per cent of MPLADS funds are to be utilized for areas inhabited by SC population and 7.5 per cent for areas inhabited by ST population.
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