Government aims to cut time lags between economic data surveys, says MoSP [Read More]

The Secretary emphasized the need to reduce the gap between surveys like the Household Consumption Expenditure Survey (HCES) and the Periodic Labour Force Survey (PLFS), suggesting potential quarterly or even monthly releases for some. 

While officials acknowledged challenges in increasing the frequency of HCES due to its comprehensive nature in capturing household consumption trends, they indicated feasibility in making PLFS employment statistics monthly. Currently, PLFS releases occur quarterly for urban areas and annually overall, with plans to bridge gaps in rural employment data.

 Efforts are also underway to update base years for economic indicators such as GDP, IIP, WPI, and CPI, aiming for a transition to 2022-23 or 2023-24 as new reference years to reflect current economic realities and price movements.