RBI sets up expert committee on benchmarking of its statistics

The RBI has established an expert committee, chaired by Deputy Governor Michael Patra, to benchmark India's economic statistics against global standards. The committee aims to enhance the quality and accuracy of the RBI's data, which is crucial for effective policymaking. By reviewing and recommending improvements to current statistical methodologies, the committee seeks to align India’s economic data practices with international best practices, thereby increasing transparency and reliability in economic reporting.