Machines to get India’s economic data right

India is turning from man to machines to improve the quality and speed of its economic date, which has been criticized as lacking, deferred or in any event, confounding because of sharp and sudden revisions.

The Ministry of Statistics is ramping up utilization of artificial intelligence for collecting, analyzing and reporting information to better monitor the economy. The measures incorporate a $60 million program with World Bank help utilizing a data entryway that collates real time data.

“Due to the evolving landscape, there’s a developing requirement for increasingly more data, quicker data and furthermore more refined data products,” Statistics Secretary Kshatrapati Shivaji said in a meeting. With end-to-end computerization, “this sort of mechanization will improve the quality, believability and idealness of information.”

The nature of its economic numbers is a problem that is a pressing issue to be addressed for India following various discussions over its information. While the pandemic has uncovered the requirements of ordinary economic data the world over, the issue is especially intense in India, where a dependance on manual processing has sometimes let to a data vacuum.