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India’s macro data volume to rise with monthly labour surveys, capex reports; MoSPI fixes new IIP release date
- The index of industrial production data will be released on the 28th of each month instead of the 12th, reducing the time lag from 42 days to a more current monthly cycle.
The Ministry of Statistics and Programme Implementation (MoSPI) is set to enhance the frequency and timeliness of key macroeconomic data releases, introducing a private sector capex survey, monthly labour force reports, and a revised schedule for the factory output data from 2025-25 (FY26).
According to CNBC TV-18, the index of industrial production (IIP) data will be released on the 28th of each month instead of the 12th, reducing the time lag from 42 days to a more current monthly cycle. This will align the IIP data with other economic indicators, ensuring policymakers and analysts have more relevant insights.
Reports added that a new, forward-looking private capex survey, set for release on April 30, 2025, will assess the capital investment intentions of India's non-financial and financial corporations. It will compile macroeconomy data on capital expenditure (capex) incurred over the past three years and projections for the next two years, highlighting the industry investment trends.
Mint could not independently verify the report
To ensure the availability of employment data, the government will begin releasing the monthly Periodic Labour Force Survey (PLFS) reports covering rural and urban areas in May. These will be published on the 15th of every month, while quarterly PLFS reports will follow a month after the quarter ends. According to media reports, the back-series dataset for the previous 12 months is also expected to be adjusted for higher standard errors to ensure consistency.
India's IIP data
The Ministry of Statistics and Programme Implementation data showed on February 10 that India's IIP for December grew 4.3 per cent year over year compared to 7.1 per cent in the preceding month. The government data added that the IIP grew by 5.4 per cent from April to December.
According to the NSO, the manufacturing sector's output grew by 2.6 per cent in December. "The YoY growth in the IIP is likely to improve in the ongoing quarter, partly boosted by the typical year-end volume push to achieve targets," said Aditi Nayar, Chief Economist, Head- Research & Outreach at ICRA.
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Business NewsEconomyIndia’s macro data volume to rise with monthly labour surveys, capex reports; MoSPI fixes new IIP release date
First Published:19 Feb 2025, 06:28 PM IST
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