Ministry of Statistics and Programme Implementation (MoSPI) signs two MoUs with Institute of Data Engineering, Analytics and Science Foundation (IDEAS) for GDP nowcasting and data research

Key facts

• The Ministry of Statistics and Programme Implementation (MoSPI) has signed two Memoranda of Understanding (MoUs) with the Institute of Data Engineering, Analytics and Science Foundation (IDEAS) at the Indian Statistical Institute (ISI), Kolkata.
• The collaboration will develop a desktop-based software tool for GDP nowcasting to provide timely assessments of current economic activity.
• It will also create a harmonised indicator framework linking administrative data from health, nutrition and well-being schemes with National Sample Survey (NSS) household-level data.
• MoSPI will provide financial assistance and data support, while IDEAS will undertake research and develop analytical tools.
• The MoUs were signed by IDEAS Chief Executive Officer Agnimitra Biswas and Prasoon Verma, Director, Training Unit, Capacity Development Division, MoSPI.
• The research initiative supports the Viksit Bharat @ 2047 vision for data-driven policymaking.