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A nodal agency to exclusively collect data on the services sector is on its way, T.C.A. Anant, Chief Statistician of India, said here on Wednesday.
The need for such an agency for policy-making was “so pressing” that it can be expected soon, he said.
Addressing a CII event, he said lack of data on services was the “greyest” area in Indian statistical system despite the sector’s growing contribution to the economy.
He said there was an inherent handicap in collecting such data as a lot of transactions in the services sector were done informally. For instance, in healthcare and education, transactions were also done through third party means, often involving other countries, which were not captured by existing data, he added.
The proposed nodal agency, which may require an independent legislation, should balance “national needs with commercial confidentiality”, he said.
Corporate participation
Stressing on the importance of corporate participation in collecting such data, Anant suggested that self-reporting should become a norm in the proposed agency, as that was the only way in which data on such a large-scale could be collected.
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