Better methodology for credible price statistics

Shimla: A three day workshop for improving the quality and reliability of Price Statistics in the country and brushing up the concept and methodology being employed for compilation was inaugurated today.

Speaking on the occasion Ashok Rajan, economic advisor to the government said an improved methodology for compilation would enhance the quality credibility and usefulness of price statistics.

He said that prices were being utilized for estimating GDP of the country and states which in turn have been recognized as important indicators to gauge developmental activities. He said that price indices were widely used by various institutions, industries and organizations to facilitate and help in making decisions about wages.

He said that Labour Bureau had been invested with the responsibilities in compilation of Consumer Price Index Numbers for industrial workers and that price collectors and supervisors who were the primary workers in providing basic statistics, were the most important link in the index compilation process.  Price collectors  and price supervisors drawn from all over the country are participating in the workshop.

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