The statistics department is working extensively on the data with the aim to provide some early estimates to the government for the budget for the next fiscal year.
In 2017 as anticipated the budget is set to be presented a month earlier than its traditional February end unveiling.
All indicators of growth should be looked at in synchronization to get a complete picture of the economy said chief statistician TCA Anant.
Regarding budget date change preparation Anant said, “We will give a calendar of our release as per the finance ministry’s requirement.”
“In the release we will explain what data is available in December and the broad methodology of calculation. If I make an estimate in January, I will have data only till December,” he added.
He further added, “We are working on the calendar because we need to look at what data is readily available in December, after the second-quarter estimate, before we can give the press release.”
“We have to make a detailed inventory of which number is made available for the task. National Accounts Division is making that inventory for us,” Anant further said.
“People who collect the data and supply it to us are mostly based on prefixed calendars. We will look at those calendars and see how we can work them into whatever projection exercise we are doing,” he said.
The inventory is currently done for a release to be made on February 7. A separate inventory will have to be made for a release earlier.