Some earlier elements of volatility and bias will be smoother: T C A Anant

Interview with Chief Statistician of India

Volatility of the Index of Industrial Production (IIP) in the earlier series was a concern. T C A Anant, chief statistician to the central government, discusses the issue and the new series fior it and the Wholesale Price Index (WPI), with Dilasha Seth & Indivjal Dhasmana. Edited excerpts:

The new series of the IIP is showing a brighter side of the economy on data for earlier years. Why?

A higher growth rate is partly a reflection of an updated base. This means the production structure is more representative and data are taken from more numbers of establishments than the old series.