Finance Minister Nirmala Sitharaman spoke openly about GST, inflation and employment at the Times Network India Economic Conclave 2019.
Mumbai: Union Finance Minister Nirmala Sitharaman said on Monday that the government is focusing on improving the credibility of the data. He said this amid concern over the modalities of calculating various macroeconomic figures. He said that various aspects including gross domestic product (GDP), inflation and employment are being considered. The Finance Minister said this while speaking on the occasion of Times Network India Economic Conclave 2019.
Sitharaman said in his address through video conferencing at the India Economic Conference organized by Times Network, “The government is looking at the data and making sure that whatever doubts are there about the data will be removed so that whatever government data comes , Good credit to him and people accept him. The finance minister’s remarks come at a time when the government is facing allegations of misappropriation of data collection and favorable conclusions. Earlier this year, more than 100 economists publicly wrote letters publicly about such trends.
He said that government agencies including National Statistical Commission and Ministry of Statistics and Program Implementation are working on these aspects related to data. However, the Finance Minister said that due to the unorganized sector, the government’s assessment of employment is not good. According to recently released government figures, unemployment has reached a four-decade high.