JAGO FINANCE MINISTER JAGO!!

Lot of things are happening behind your back.....

Terming the miscalculation in industrial production data “totally baffling”, finance minister Pranab Mukherjee on Friday said he had asked the authorities concerned to look into the issue.
“I can understand if there is error in calculating 0.1 per cent or 0.2 per cent, but a drop from 6.8 per cent to 1.1 per cent is totally baffling,” Mukherjee told reporters here.
The ministry of statistics and programme implementation had on Thursday sharply revised the growth in the index of industrial production (IIP) for January from 6.8 per cent to 1.1 per cent. Chief statistician T C A Anant had attributed the miscalculation to misreporting by the directorate of sugar, which provided data for four months instead of that for a single month.
Responding to comments that such errors hit the credibility of government data, Mukherjee said, “We shall have to ensure that government data, their integrity should not be challenged...I have asked the authorities concerned to look into why it has taken place and told them they should be much more careful in the future.”
After the release of the IIP data for January, it was detected that sugar production data was inadvertently given as 1,340.8 million tonnes, instead of the actual 580.9 million tonnes, Anant had said.

Courtesy: The Business Standard