Amid a cloud over the credibility of India’s key economic statistics, the 15th Finance Commission has said that it will reconcile data from various public sources to come up with its own conclusion of a reliable economic data.
This was stated by N K Singh, Chairman of the Commission, during a two-day meeting with the Governor of Reserve Bank of India (RBI) Shaktikanta Das and other representatives of banks and financial institutions in Mumbai.
“The states’ overall debt picture is an important area of concern, with different states being in different stages of compliance and non-compliance with the desired debt trajectory. This is an area where we had very useful discussions,” Singh said.
“In the next two days, some of us are staying back for data reconciliation, between the CAG (comptroller and auditor general), the RBI and the data which we got from finance ministry sources. So as far as we are concerned, we will try to come to a conclusion about what we would consider a reliable data in public domain,” he added.
The Commission had held a meeting with economists and bankers to understand the issues facing sector, and it had sharpened its understanding of key measures to maintain macroeconomic stability, he said.