The Reserve Bank of India (RBI) announced on Monday the formation of a new committee to benchmark its statistics against global standards. The 10-member panel, titled the ‘Expert Committee on Benchmarking of its Statistics,’ will be chaired by RBI Deputy Governor Michael Debabrata Patra and is tasked with submitting its report by the end of November 2024.
The committee will review the quality of regularly disseminated data, including areas where global benchmarks are currently absent, such as sectors of national priority. It will also offer guidance on potential refinements to existing data practices.
The panel's membership includes R B Barman, former chairman of the National Statistical Commission; Sonalde Desai from the National Council of Applied Economic Research and the University of Maryland; Partha Ray, Director of the National Institute of Bank Management; and Bimal Roy, former chairman of the National Statistical Commission and former director of the Indian Statistical Institute.
Additionally, Paul Schreyer, former chief statistician at the OECD; Bruno Tissot, head of Statistics and Research Support at the Bank for International Settlements; and Sudarshan Sen, former executive director of the RBI, are also part of the committee. RBI Executive Directors Muneesh Kapur and O P Mall will also serve on the panel.
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