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Economy

Quick Post: IIP Numbers Revised to +2.2%

Instead of waiting for a month, MOSPI has decided to revise IIP data twice in the same day. The result: The originally announced 1.95% is now 2.2%.

(And a replug that I was right about the data fudge in the GDP numbers last year)

Trustable numbers are important for both policy decisions. Unfortunately the importance of data has never been accepted, and even where we do release data it seems filled with holes and lack of transparency.

I might rail about the RBI from time to time but they do provide excellent data of all sorts that helps with understanding the economy. SEBI too provides great data and requires that participants continuously update and manage their data. However if we are to suspect the veracity of the data itself, then it’s all a waste of time.