&w=3840&q=100)
Alternative data sources help in 'proactive intervention' for growth: CEA
'It is important to note that the value of alternate data is not in its volume or novelty, but in the distinctive lens it offers,' he said at the National Workshop on Alternate Data Sources and Frontier Technologies for Policy Making. The two-day event in New Delhi is organised by the Ministry of Statistics and Programme Implementation (MoSPI).
'These data sources enable policymakers to move from retrospective diagnostics to proactive intervention. It captures emergent behaviour and reflects the lived experience of economic agents that conventional aggregates sometimes cannot.'
It is important that researchers understand the huge amounts of data that is being generated, as it helps in improving the forecast accuracy of economic aggregates such as consumption, gross domestic product and investments, said Nageswaran.
'For example, satellite-based night-time luminosity has been used to indicate economic activity in regions with delayed or weak statistical reporting. The satellite data can help policymakers detect cropping patterns, assess soil moisture, and detect early signs of drought. These insights can inform timely decisions on input provisioning, crop insurance payouts, and regional procurement strategies.'
Suman K Bery, vice-chairperson of NITI Aayog, told the workshop conventional data should be integrated with alternate sources while ensuring quality.
'The insights from traditional as well as alternate data sources need to be strengthened with emphasis on data processing and assimilation at the same time,' said Bery.
Saurabh Garg, secretary at MoSPI, listed five building blocks for enhancing harmonisation of data. These are meta data structures, international and national classifications, unique identifiers, self-quality assessment tools and reconciliation of diverse data to achieve such endeavours.
Nageswaran said data generated by statistical systems and alternate sources complement rather than substitute each other. The latest trends in technology, like artificial intelligence and Internet of things, have to go hand in hand with skilling manpower.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
37 minutes ago
- Business Standard
India exports to US to be more competitive after duty hike on China, others
Indian exports to the US will become more competitive following imposition of higher tariffs by the Trump administration on countries, including China, Canada, and Mexico, Niti Aayog said in a report on Monday. The Aayog in its third edition of 'Trade Watch Quarterly', said there will be significant opportunities for India in the US markets both in terms of the number of products and volume of the US market. "India is expected to gain competitiveness in 22 out of the top 30 categories (HS 2 level), representing a market size of $2,285.2 billion," the Aayog said. It further explained that China, Canada, and Mexico are the leading exporters to the US in these categories, therefore higher tariffs on these countries at 30 per cent, 35 per cent, and 25 per cent, respectively, will enhance India's competitiveness. The Aayog said India's competitiveness will remain unchanged in 6 out of 30 categories, amounting for 32.8 per cent exports to the US and 26 per cent of the US total imports, amounting to $26.5 billion. While for six product categories at HS 2 level, India faces a higher average tariff(between 1-3 per cent) which can be negotiated with the US, the Aayog said, "In 78 products, accounting for 52 per cent of India's exports and 26 per cent share in total US imports, India is expected to gain competitiveness." For 17 products (accounting for 28 per cent of India's export to the US) out of the top 100 products at the HS-4 level, the Aayog said India's competitiveness remains unchanged due to no change in tariff differential. The Aayog also pointed out that "India stands to gain in sectors with high tariff gaps vs China, Canada and Mexico -- minerals and fuels, apparel, electronics, plastics, furniture, and seafoods in a $1,265-billion market". Meanwhile, an Indian commerce ministry team has reached Washington for another round of talks on the proposed bilateral trade agreement (BTA), which will begin on Monday. Chief negotiator of India and special secretary in the department of commerce Rajesh Agrawal will join the team on Wednesday. The four-day talks will end on Thursday. India's deputy chief negotiator for the proposed BTA has reached Washington for the talks on the first phase of the BTA, the official said. The visit assumes significance as both sides have to iron out issues in sectors like agriculture and automobiles. It is also important as the US has further postponed the imposition of additional tariffs on several countries, including India, until August 1. Earlier this month, the Indian team was in Washington for talks, with negotiations taking place from June 26 to July 2. The team has once again reached the US for negotiations. India has hardened its position on the US demand for duty concessions on agri and dairy products. New Delhi has, so far, not given any duty concessions to any of its trading partners in a free trade agreement in the dairy sector. India is seeking the removal of this additional tariff (26 per cent). It is also seeking the easing of tariffs on steel and aluminium (50 per cent) and the auto (25 per cent) sectors. Against these, India has reserved its right under the WTO (World Trade Organization) norms to impose retaliatory duties. US President Donald Trump announced heavy tariffs on a number of countries, including India, on April 2. However, it was soon postponed for 90 days until July 9 and later to August 1. From July 7, the Trump administration has issued tariff letters to a number of its trading partners, including Bangladesh, Indonesia, Japan, South Korea, Malaysia, Thailand, South Africa, Bosnia and Herzegovina, Cambodia, Kazakhstan, Laos, Serbia, and Tunisia. The US wants duty concessions on certain industrial goods, automobiles, especially electric vehicles, wines, petrochemical products, and agri goods, like dairy items, apples, tree nuts, and genetically modified crops. On the other hand, India is seeking duty concessions for labour-intensive sectors, such as textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas in the proposed trade pact. The two countries are looking to conclude talks for the first tranche of the proposed bilateral trade agreement (BTA) by fall (September-October) this year. Before that, they are looking for an interim trade pact. India's merchandise exports to the US rose 21.78 per cent to $17.25 billion in April-May this fiscal year, while imports rose 25.8 per cent to $8.87 billion.
Time of India
2 hours ago
- Time of India
India to gain vis-a-vis competitors from high tariffs imposed by US: NITI Aayog
India stands to gain in sectors with high tariff gaps vis-a-vis competing nations like China , Canada and Mexico if the existing tariffs imposed by the US, as on July 10, on India remain unchanged, NITI Aayog said. The Aayog's analysis, which is part of its Trade Watch Quarterly report for October-December quarter of 2024-25 released on Monday, comes at a time when India is in the final leg of firming up a trade deal with the US. As per the report, the sectors where India stands to gain include minerals and fuels, apparel, electronics, plastics, furniture and sea-food. The Aayog has pegged the market size for these products at $1265 billion. The report said India is expected to gain competitiveness in 22 out of top 30 products in the HS 2 categories, representing a market size of $2285.2 billion and in 78 products out of top 100 in HS 4 categories. "Significant opportunity for India in US markets both in terms of the number of products and volume of the US market," the Aayog said in its report. Despite no tariff edge, India remains strong in pharmaceuticals and precious stones, which are key exports to the US with a $766.7 billion market. "In nuclear reactors, vehicles, aluminium and iron and steel, a 25% tariff on Canada and Mexico has narrowed the tariff gap, opening opportunities for India in the $557.5 billion market," it added. NITI Aayog's analysis shows India's competitiveness will remain unchanged in 6 out of 30 categories. "For six product categories at HS 2 level, India faces a higher average tariff (between 1-3%), which can be negotiated with the US," it suggested.
Hans India
a day ago
- Hans India
New SDG index shows stronger progress in Northeast India, Front Runner districts rise to 85 pc
New Delhi: With better data systems, broader district coverage and stronger state involvement, the 2023-24 edition of the NER District SDG Index offers a more refined and reliable picture of the development journey of India's Northeastern Region. The 2023-24 index shows remarkable progress in several areas. All districts in Mizoram, Sikkim and Tripura have now achieved 'Front Runner' status. Hnahthial in Mizoram emerged as the top-performing district. States like Nagaland and Tripura showed well-balanced and strong performance across various goals. Compared to the first edition, the proportion of districts in the Front Runner category has increased from 62 per cent in 2021-22 to 85 per cent in 2023-24. This improvement is the result of national flagship schemes, better localisation by states, and saturation efforts under initiatives like the Aspirational Districts Programme. Released on July 7 by NITI Aayog and the Ministry of Development of North Eastern Region (MoDoNER), with support from the United Nations Development Programme (UNDP), this is the second edition of the index, building on the first report from August 2021. This latest edition tracks how districts in the eight northeastern states are performing on 15 of the 17 sustainable development goals (SDGs). It covers 121 out of 131 districts, an increase from 103 districts in the first edition. The data for this index has also improved, with 84 indicators being used -- 41 from central sources and 43 from state systems -- reflecting better coordination and reporting. The Sustainable Development Goals, adopted by the United Nations in 2015, aim to reduce poverty, improve healthcare and education, ensure clean water and jobs, and create a more just and equal world by 2030. In India, NITI Aayog leads the national effort, linking these global goals to government schemes and working closely with all ministries. The UN team in India supports the process by ensuring inclusiveness and strong financial backing. The index not only ranks districts but also highlights gaps, challenges and disparities -- both within states and between them. It aims to encourage competitive federalism, support local planning, promote peer learning, and improve data systems.
