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    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
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    India weathered Hormuz disruption without fuel shortages: Puri
    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
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    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
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    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
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    August 9, 2026
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    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    August 8, 2026
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    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
    August 8, 2026
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
    Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
    August 8, 2026
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    Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
    Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
    August 8, 2026
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    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
    August 8, 2026
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
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    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
    Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
    August 7, 2026
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
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    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
    August 7, 2026
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    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
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    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    August 7, 2026
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    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
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    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
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    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    August 7, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
    India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
    August 7, 2026
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    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
    The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
    August 7, 2026
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    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
    A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".

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      Year-end review 2024: Ministry of Statistics and Programme Implementation (MoSPI) during 2024

      December 26, 2024

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      Survey Results release fast-tracked with use of technology

      Data releases as per the Advance Release Calendar

      Continuous engagement and regular feedback from the data users and stakeholders to improve data quality

      Base year revision exercise underway for GDP, IIP and CPI

      Data accessibility through eSankhyiki portal

      Strengthening statistical collaboration with Ministries/Departments/States/UTs

      Revamping of OCMS underway

      Mobile app launched for Members of Parliament and all other stakeholders for the MPLADS eSAKHI Portal

      The key initiatives/achievements of the Ministry of Statistics and Programme Implementation (MoSPI) during the year 2024 are as follows:

      A. Survey Reports released during 2024

      During the year, MoSPI released the results in respect of the following Surveys:

      1. Household Consumption Expenditure Survey (HCES) 2022-23

      MoSPI released the report on Household Consumption Expenditure Survey 2022-23 on 7 June 2024. It brought out the estimates of monthly per capita household consumer expenditure at both State and all-India levels and helps in understanding the consumption patterns, standard of living and well-being of the households. It also provided the budget shares of different commodity groups, which is used in preparing the weighting diagram for compilation of official Consumer Price Indices (CPIs). The report on HCES 2023-24 is likely to be released on 27 Dec 2024.

      1. Survey on Ayush 2022-23, NSS 79th Round

      The AYUSH 2022-23 is the first exclusive all-India survey on ‘Ayush’ conducted by the National Sample Survey of MoSPI from July 2022 to June 2023 as part of the 79th round of NSS. The survey was aimed to gather insights on awareness and use of traditional healthcare systems, including home remedies & medicinal plants. The survey brought out information on indicators on awareness, usage of Ayush and average expenditure incurred for availing Ayush treatment at all-India level along with state level estimates.

      1. Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2021-22, 2022-23 and 2023-24

      ASUSE is an integrated survey capturing economic and operational characteristics of unincorporated non-agricultural enterprises in manufacturing, trade and other services sectors (excluding construction) in order to supplement the corporate sector data. MoSPI released the key results on economic and operational characteristics of unincorporated non-agricultural enterprises in manufacturing, trade and other services sectors through the reports on ASUSE 2021-22, 2022-23 and 2023-24. The factsheet for the year 2023-24 was released on 24 Dec 2024.

      1. Periodic Labour Force Survey (PLFS)

      MoSPI released quarterly bulletins on PLFS (Urban) and Annual Report on PLFS (Rural and Urban) during the year. The reports provided estimates of the key employment and unemployment indicators (viz. Labour Force Participation Rate, Worker Population Ratio, Unemployment Rate). From Jan 2025 onwards, MoSPI is planning to release the PLFS reports for both rural and urban on a monthly basis.

      1. Annual Survey of Industries (ASI) Final Result (2022-2023)

      MoSPI released the report Annual Survey of Industries 2022-23 on 30 Sep 2024. The report provides a meaningful insight into the dynamics of change in the composition, growth and structure of various manufacturing industries in terms of output, value added, employment, capital formation and a host of other parameters.

      1. Comprehensive Annual Modular Survey (July 2022- June 2023)

      MoSPI released the report on Comprehensive Annual Modular Survey (July 2022- June 2023) on 9 October 2024. The survey was conducted to collect data to generate indicators related to education, out-of-pocket medical expenditure, use of mobile and internet, financial inclusion, ICT skills, possession of assets, etc. In addition, information related to drinking water, sanitation, energy use, birth registration, access to transport facilities, etc.  was also collected. The data collected in this survey represented the demand-side information of the households surveyed.

      B. New Surveys planned by MoSPI

      MoSPI initiated preliminary activities for undertaking the following new surveys:

      1. Domestic Tourism Expenditure Survey
      2. National Household Travel Survey
      3. Health Survey
      4. Forward-Looking Survey on private sector CAPEX

      These surveys would fulfill the data requirement in respect of Ministry of Tourism, Ministry of Railways, Ministry of Health & Family Welfare and Department of Economic Affairs, Ministry of Finance. The field work for the Forward-Looking Survey on private sector CAPEX has commenced and for the remaining three surveys the field work would start in the year 2025.

      C. Advance Release Calendar for MoSPI

      The Advance Release Calendar of MoSPI has been published on MoSPI website by laying down the list of all the data releases/reports/publications of MoSPI scheduled during the year 2024-25. It includes planned dates for publishing/release of macro-economic indicators viz. GDP, IIP and CPI, Survey Reports viz. Periodic Labour Force Survey (PLFS), Household Consumer Expenditure Survey (HCES), Annual Survey of Industries (ASI), Annual Survey of Unincorporated Sector Enterprises (ASUSE), Time Use Survey (TUS) etc. and various publications/reports on socio-economic issues including Sustainable Development Goals (SDGs), Payroll Reporting, Women and Men in India, Infrastructure Sector Performance, Project Monitoring. All data releases/reports/publication have been made as per the calendar by MoSPI till date.

      D. Stakeholder engagement and feedback mechanism

      As part of the initiative towards strengthening the National Statistical System, MoSPI implemented a series of reform initiatives. The initiatives included continuous engagement and regular feedback from the data users and stakeholders, in order to improve data quality. Towards this, MoSPI organised a series of Data User Conferences with data users and stakeholders to take feedback from them and improve the statistical processes and products and promote effective utilization of official statistics and data for policymaking.

      1. Household Consumption Expenditure Survey (HCES) 2022-23 – 19 June 2024
      2. Annual Survey on Unincorporated Sector Enterprises (ASUSE) 2022-23 – 23 August 2024
      3. Periodic Labour Force Survey (PLFS) 2023-24 – 26 September 2024
      4. Annual Survey of Industries (ASI) 2022-23 – 5 Dec 2024

      MoSPI also organised Workshops/conferences/brainstorming sessions with stakeholders:

      1. To raise awareness about the upcoming enterprise surveys of MoSPI namely Annual Survey of Industries (ASI), Annual Survey of Unincorporated Sector Enterprises (ASUSE), Economic Census (EC), Annual Survey of Service Sector Enterprises (ASSSE) and CAPEX, on 12 Sep 2024, MoSPI organised a Conference with Business Associations on Upcoming Enterprise Surveys to engage with various trade groups, associations, and business organizations.
      2. To address the issue of non-response in Sample Surveys, on 20 Sep 2024, MoSPI organised a Brainstorming session on the issue of non-response to sample surveys particularly by high income groups/gated societies/ high-rise housing facilities. Discussions were held on various facets of issue of non-response in high income groups to develop strategies that encourage the aforementioned target population to contribute valuable data and build trust among them by educating on the importance of data and privacy policies.
      3. To explore potential enhancements in CPI Compilation Methodologies, another brainstorming session was organised by MoSPI on 20 Nov 2024, on the "Treatment of PDS items and other necessities in Household Consumption Expenditure Survey (HCES) & Consumer Price Index (CPI) compilation.
      4. All India Workshop of Trainers for Forward looking survey on private corporate sector Capex investment intentions was organised ion Pune on 26 Sep 2024 to facilitate the conduct of survey.
      5. All India Workshop of Trainers (AIWOT) for the NSS 80th Round of its Socio-Economic Survey during 10th & 11th December 2024 to facilitate the conduct of surveys to be done during the round. The subjects under coverage in this Round are Survey on Household Social Consumption: Health and Comprehensive Modular Survey on Telecom (CMS-T).

      E. Base revision of GDP, CPI and IIP

      MoSPI initiated the process for base revision of its macro-economic indicators viz. CPI, IIP and GDP and constituted Committees for the same and consultations of the Committees are underway.

      1. Advisory Committee on National Accounts Statistics (ACNAS) has been constituted in June 2024 to guide the base revision of GDP and related macroeconomic aggregates. The Committee in its meeting in August 2024 has suggested to rebase the estimates from 2011-12 to 2022-23. Accordingly, MoSPI has decided to rebase the GDP estimates to 2022-23.
      2. Five Sub-committees of the ACNAS have been constituted to guide on various aspects of base revision such as adoption of new data sources, methodological improvement, use of deflator/inflator, regional accounts and SNA 2025 adoption. Seven meetings of the sub-committees have been held till date.
      3. For CPI base revision, base price collection, preparation of weighting diagram & compilation methodologies has commenced and the new series is expected by February 2026.
      4. Additional data sources are being explored for inclusion in compilation/estimation of GDP, CPI as well as IIP.

      F. Data visualization and dissemination

      To fulfill its vision of enhanced user experience and data accessibility through cutting-edge technology has launched the eSankhyiki portal on Statistics Day 2024 i.e. 29 June 2024 This portal contains time series data of important macro indicators and a catalogue of major data assets of the Ministry and has two sections:

      1. Macro Indicators: This module offers time series data of key macro indicators with features for filtering, visualizations, API & Metadata enabling ease of access & management of data. The portal currently has more than 4.1 million records.
      2. Data Catalogue: All major data assets of the Ministry e.g. National Account Statistics, Consumer Price Index, Index of Industrial Production and NSS surveys are listed in the Data Catalogue at one place for ease of access. The Data Catalogue has approximately 2700 datasets along with specific metadata and visualization for each dataset.

      The is a single source for the Official Statistics and would facilitate data driven decision making as various indicators are readily available in a user-friendly format. It will facilitate ease of Data Management for Official Statistics in the Country. Through e-sankhyiki portal, the WPI data from DPIIT can also be accessed, which has been ingested through API provided by DPIIT.

      G. Publication on Social Sector Statistics

      During 2024, MoSPI released the following publications on Social Sector Statistics. 

      1. EnviStats India 2024: Environment Statistics (5 June 2024)

      The publication is based on Framework on Development of Environment Statistics (FDES 2013) prescribed by UNSD for compilation of environment statistics and provides information on the six fundamental components namely (i) Environmental Conditions and Quality; (ii) Environmental Resources and their use; (iii) Residuals (iv) Extreme Events and Disasters; (v) Human Settlements and Environmental Health; and (vi) Environment Protection, Management and Engagement. This publication is the seventh in the series.

      1. Women and Men in India 2023 (12 Aug 2024)

      MoSPI has been releasing the publication titled “Women and Men in India” since 1995. The 25th issue of its publication titled “Women and Men in India 2023 was released during 2024. The publication is a comprehensive and insightful document that attempts to bring a holistic view of the situation of women and men in India and provides data on a wide range of topics such as Population, Education, Health, Participation in Economy, Participation in Decision making etc. among others. It provides data disaggregated by gender, urban-rural divide, and geographical region, which helps to understand the disparities that exist between different groups of women and men.

      1. EnviStats India 2024: Environment Accounts (30 Sep 2024)

      (MoSPI compiled and released the 7th consecutive annual issue of the publication “EnviStats India: Environment Accounts” on 30 September 2024 in accordance with the SEEA (System of Environmental Economic Accounting) Framework which is an agreed international framework for the compilation of the Environment Economic accounts. The publication provides details on Environment Accounts of some selected ecosystems/assets in terms of their extent, condition and services derived from these ecosystems and provides an understanding on the linkages between the environment and the economy.

      H. Sustainable Development Goals (SDG) Reports

      MoSPI undertook the work related to setting up of milestones for SDG national indicators in consultation with the line Ministries.  In this context, ‘Review of Milestone Setting for SDGs National Indicators’ was organized with stakeholder Central Ministries/Departments on 16 August 2024. It will help in preparing India for progress assessment and improvement for further showcasing it at 2025 Comprehensive Review of the SDGs Global Indicator Framework.

      The following three SDG Reports have also been released during the year:

      1. Sustainable Development Goals – National Indicator Framework Progress Report, 2024
      2. Data Snapshot on Sustainable Development Goals – National Indicator Framework, Progress Report, 2024
      3. Sustainable Development Goals – National Indicator Framework, 2024

      I. Initiatives towards strengthening Statistical Coordination with Central Ministries/ Departments/States/UTs

      1. (a) 28th Annual Conference of Central and State Statistical Organizations

      MoSPI organized the 28th Conference of Central and State Statistical Organizations (CoCSSO) on the theme “Use of Data for Decision Making: Strengthening State Statistical Systems” on 12 and 13 August 2024. The conference provided an institutional platform for discussion and improved coordination between the Central and State Statistical organizations for enhancing the efficiency of the Indian Statistical System in a collaborative approach. The conference was attended by representatives of more than 30 Central Ministries/Departments, around 29 State/UT Governments, Organizations/ Institutions such as Reserve Bank of India (RBI), Indian Statistical Institute (ISI), Council of Scientific and Industrial Research (CSIR), Indian Agricultural Statistics Research Institute (IASRI), Indian Council of Agricultural Research (ICAR), PHD Chamber of Commerce & Industry (PHDCCI), International Agencies such as World Bank, UN agencies and other stakeholders.

      (b) In order to strengthen the statistical coordination between MoSPI and State Governments/UT Administration, MoSPI organized a meeting of State Secretaries (Planning & Statistics) on 14 Nov 2024. The meeting was attended by the State Secretaries (Planning & Statistics) of States, Officers from MoSPI including senior officers from State Capital ROs of NSO,  NITI Aayog, other representatives from State / UT Governments and representative from the World bank, etc.

      1. Formalization of the Roles and Responsibilities of Statistical Advisers (SAs)

      To strengthen institutional mechanism of statistical coordination with various Ministries/Departments, MoSPI delineated the roles and responsibility of Statistical Advisers in all Central Ministries on 16 August 2024. This will strengthen the statistical coordination of MoSPI with other Central Ministries/ Departments and help in further improvement of National Statistical System. Two workshops have been organized with Statistical Advisers/ Senior ISS officers posted in various Ministries/ Department on 29 August 2024 and 23 Dec 2024 for their sensitization and feedback.

      1. Creation of survey wise verticals in National Sample Survey (NSS)

      As a step towards improving the statistical survey processes and to release qualitative survey results/ reports in shortest possible time, MoSPI created two survey wise verticals / divisions in NSS. Moving from process-based system to a product-based system, MoSPI restructured its existing divisions / units i.e. Survey Design and Research Division (SDRD) and Data Processing Division (DPD) and Industrial Statistics (IS) Wing together as Household Survey Division (HSD) and Enterprise Survey Division (EnSD) respectively to provide turnkey services with respect to Enterprise and Household surveys.

      1. Delegation of Financial Powers to HODs in the Divisions / Units including Field Offices of MoSPI

      As part of the administrative reforms initiatives, on 06 Sep 2024, MoSPI revised its Delegation of Financial Powers and designated 71 Heads of Department (HOD) in the Zonal Offices/Regional Offices/ DPCs of MOSPI. This have been framed to empower and allow greater autonomy to the authorities at Zonal & Regional Offices and reduce bottlenecks and facilitate ease of doing business and timely disposal of financial matters.

      J. Research, Analysis and Innovation

      1. Setting up of Research and Analysis Unit

      A Research and Analysis Unit has been set up in MoSPI in February 2024 with an aim to encourage and facilitate research and analysis in the field of official Statistics. As part of the mandate to analyse publicly available datasets and share the findings of the analysis with government stakeholders as research and policy inputs, the unit has prepared three working papers on various subjects and shared research and policy inputs with the concerned Ministries/Departments.

      1. Data Innovation Lab

      A Data Innovation (DI) Lab has been operationalized in MoSPI on 23 July 2024 with the objective to promote innovation, adoption of Information Technology, improvement in methodology etc. in the field of Official Statistics. The lab would create an ecosystem for experimentation, offering of new ideas and their Proof-of-Concept through wider participation of stakeholders such as entrepreneurs start-ups, academic-research organizations and Institutes of National & International eminence etc.

      The guidelines and governance mechanism have been notified and available on the website of the Ministry. All the Ministries and department of the Government of India have been requested to send problem statement. Ten problem statements have been identified and placed on MoSPI website. MoUs have been signed with five reputed Institutes viz. IIM Nagpur, IIT Madras, IIIT Vadodara, IIIT, Delhi and IIT Gandhinagar during the year.

      K. Initiatives on Data Governance and statistical standards

      1. National Metadata Structure (NMDS 2.0)

      MoSPI issued a revised National Metadata Structure (NMDS 2.0) to Central Ministries/ Departments on 18 October 2024 for compliance to promote transparency and better understanding of Datasets. MoSPI has started collaborative effort with Ministry of Tourism (MoT), Ministry of Rural Development, Department of Chemicals & Petrochemicals, Department of Public Enterprises and Department of Financial Services for implementation of NMDS 2.0.

      1. Compilation of Global/National Statistical Standards/Codes

      MoSPI developed and circulated a list of 68 international and 9 National Statistical Standards amongst the Central Ministries/Departments in October 2024 for ensuring adherence to these standards/codes as applicable. Consultation with Ministries/Departments are underway for effective implementation of the same.

       

      1. Compilation of Common Unique Identifiers during Data Production processes

      MoSPI compiled and shared a list of common identifiers among Ministries/Departments in November 2024 to facilitate interoperability between data platforms. A meeting under the chairpersonship of Secretary, DARPG, was held on 13.11.2024 with the officials of MoSPI, to discuss the plausible means and modalities of linking administrative datasets of DARPG namely, BHAVISYA and CPGRAMS with e-HRMS, AADHAR etc. The initiatives would facilitate for interoperability between data platforms.

      1. Revision in release time of GDP/IIP/CPI

      MoSPI has revised the release time for the Consumer Price Index (CPI) and Index of Industrial Production (IIP) from 5:30 PM to 4:00 PM on 12th of every month (the next working day if the 12th falls on a holiday of CPI) and Previous working day if 12th falls on a holiday in case of IIP) to provide more time on the day of release to access CPI & IIP data. The Ministry has also revised the release time for the GDP estimates from 5.30 PM to 4.00 PM.

      L.  Infrastructure Project Monitoring

      1. Online Computerised Monitoring System (OCMS) Portal Projects and Infrastructure Monitoring

      To ensure prompt monitoring of Central Sector infrastructure projects, MoSPI has formulated a Concept Note to bring uniformity in the concepts and definitions used in calculating project monitoring parameters (Time and Cost overrun). Towards, this MoSPI has initiated the process of integration of its OCMS portal with IIG-PMG portal in close coordination with all line Ministries, DPIIT and DEA. The Common Upload Form (CUF) of IIG-PMG of DPIIT has been modified and development of new cloud-based application platform (new-OCMS) is being undertaken with features of data analytics, dashboards, GIS, Mobile application and report generation functionalities, providing a comprehensive and efficient solution for project monitoring. Project & Performance Monitoring Unit (PMU) has been established by this division with multi-disciplinary domain expertise for strengthening IPMD in terms of project and performance monitoring by providing high value technical outputs.

      1. Capacity Building for Project Planning and Management

      MoSPI has initiated quarterly training programs on ‘Project Planning and Management’ (Strategic-level and Operational-level) targeting mid-level and senior officers of pay level 10 to 14 from Line Ministries, Departments, and CPSEs, at the premier IITs and IIMs. The primary objectives are to enhance awareness of project management practices, provide a collaborative platform for sharing ideas and best practices and emphasize the critical importance of accurate data reporting.

      M. Members of Parliament Local Area Development Scheme (MPLADS)

      The fund flow system in MPLAD Scheme administered by this Ministry was revised and new MPLADS Guidelines and web-solution in the form of eSAKSHI Portal was launched in Feb 2023. On 16 Jan 2024, Hon’ble Minister of State (I/C) of the MoSPI, Rao Inderjit Singh launched the mobile APP for eSAKSHI portal, which enables Hon'ble Members of Parliament to recommend works under the scheme through the app. The mobile app was launched for other stakeholders viz. States/UT Authorities, District Authorities and Implementing Agencies on 02 August 2024. A functionality to the users has also been provided to suggest works in their constituencies and also review the works done in their constituencies.

      N. Statistics Day Celebrations, 2024

      Statistics Day 2024 was celebrated on 29 June 2024 with a focus on the theme ‘Use of Data for Decision Making’. The main objective of celebrating Statistics Day is creation of public awareness, especially among the younger generation, on the role and importance of statistics in socio-economic planning and policy formulation for development of the country.

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