Addressing the inauguration of the 18th RBI Statistics Day Conference here, Das said, “The focus is now naturally on enhancing capacity in AI and ML techniques and non-textual data analysis.” structured. In doing so, it is necessary to address ethical considerations and eliminate biases in algorithms.”
He said this annual event provides an opportunity to reflect on the current and evolving state of the statistical system. It also helps to take stock of improvements in the application of statistical methods and technologies in the field of public policies.
“Looking ahead, the year 2025 has special significance for the compilation of official statistics around the world. Global efforts are expected to culminate in new global standards for the compilation of macroeconomic statistics, especially for national accounts and balance of payments. Our team at the Reserve Bank is closely monitoring these developments,” the RBI Governor said.
Increasing computing power is increasingly being harnessed in combination with statistical methods to improve decision-making efficiency and enrich end-user experience in various fields of human knowledge, he added.
The celebration of Statistics Day in India coincides with the birth anniversary of Professor Prasanta Chandra Mahalanobis, whose contributions in laying the foundation of modern official statistics in India have been pioneering. Inspired by his work, Indian statisticians are making his presence felt, both nationally and globally, in traditional and newer applications of statistics, he added.
Das highlighted the areas where the Reserve Bank's cutting-edge information management is contributing to public policy formulation and overall economic development of India.
“A year ago, we launched our next-generation data warehouse, i.e. the Centralized Information Management System (CIMS), at the Statistics Day Conference. Several new features were introduced in the new system. Scheduled Commercial Banks (SCBs), Urban Cooperative Banks (UCBs) and Non-Banking Financial Companies (NBFCs) have already come on board to report on the new portal,” he said.
The new CIMS is also facilitating research on the Indian economy, minimizing the reporting burden, exploiting technological advancements and improving the experience of both data providers and users, Das added.
He said this annual event provides an opportunity to reflect on the current and evolving state of the statistical system. It also helps to take stock of improvements in the application of statistical methods and technologies in the field of public policies.
“Looking ahead, the year 2025 has special significance for the compilation of official statistics around the world. Global efforts are expected to culminate in new global standards for the compilation of macroeconomic statistics, especially for national accounts and balance of payments. Our team at the Reserve Bank is closely monitoring these developments,” the RBI Governor said.
Increasing computing power is increasingly being harnessed in combination with statistical methods to improve decision-making efficiency and enrich end-user experience in various fields of human knowledge, he added.
The celebration of Statistics Day in India coincides with the birth anniversary of Professor Prasanta Chandra Mahalanobis, whose contributions in laying the foundation of modern official statistics in India have been pioneering. Inspired by his work, Indian statisticians are making his presence felt, both nationally and globally, in traditional and newer applications of statistics, he added.
Das highlighted the areas where the Reserve Bank's cutting-edge information management is contributing to public policy formulation and overall economic development of India.
“A year ago, we launched our next-generation data warehouse, i.e. the Centralized Information Management System (CIMS), at the Statistics Day Conference. Several new features were introduced in the new system. Scheduled Commercial Banks (SCBs), Urban Cooperative Banks (UCBs) and Non-Banking Financial Companies (NBFCs) have already come on board to report on the new portal,” he said.
The new CIMS is also facilitating research on the Indian economy, minimizing the reporting burden, exploiting technological advancements and improving the experience of both data providers and users, Das added.
