Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
7. Several doubts expressed over recent official statistics in the country, examine if the present national accounting and analytical framework misses out on many key dimensions of a complex economy. Suggest solutions.(250 words)
Why this question:
The article highlights the fact that Reliable and trustworthy data models could improve our chances of improving our economy, amidst several doubts expressed over recent official statistics in the country.
Key demand of the question:
Discuss in detail the recent issues that have been continuously pointed out at the inefficiencies and loopholes in the statistical data. And suggest what needs to be done.
Examine – When asked to ‘Examine’, we must look into the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications.
Structure of the answer:
First discuss what the issue is around the statistical data of the country.
Highlight first the facts where doubts were expressed over statistical data like the – Base year for GDP estimation, Employment-unemployment data being withheld etc.
Then move onto discuss the importance of statistical data in general.
Explain what are the major concerns over data
Suggest way forward as to what can be done to resolve the issue.
Conclude that newer solutions should be explored and the country needs to Build more reliance and trust on public data.