RBI sets up Dy Guv Patra-chaired expert panel to benchmark India's statistics to global standards

The Reserve Bank of India (RBI) has established an expert panel, chaired by Deputy Governor Michael Patra, to benchmark India's statistical systems against global standards. This initiative aims to enhance the accuracy, reliability, and comparability of economic data, crucial for effective policymaking. The panel will review current methodologies and recommend improvements to align with international best practices. This move reflects RBI's commitment to improving data quality, which is essential for informed decision-making and maintaining investor confidence. The panel's recommendations are expected to strengthen India's economic reporting framework and ensure better transparency and accountability in the dissemination of statistical information.