"There are three kinds of lies: lies, damn lies, and statistics."
Statistics of economic indicators can be manipulated to demonstrate almost anything that a presenter aims to project regarding different facets of the economy.
Statistics of economic indicators can be manipulated to demonstrate almost anything that a presenter aims to project regarding different facets of the economy.
A thorough understanding of the economic indicators can help to cut through the media hype and make up your mind about what they show. But then, there is no standard book that explains the concepts and definition of the major real-world indicators of the Indian Economy.
Given these, it is good that India has a knowledge powerhouse like RBI. The researchers of RBI did a phenomenal task. They released a document to explain the important economic indicators that capture the development in the Indian economy. A link to the document is given below. The document should be read referring to the statistical tables given in RBI Monthly Bulletin.
I often come across passionate young economic & business researchers (in corporate and elsewhere) who struggle to find and learn the basics like How GDP is calculated in India? What is GVA? What are the components of GDP? What is the difference between real and nominal GDP? How is the money supply measured? What is repo rate? What is bond yield? Where can we get the data of fiscal deficit? What is investment and saving rate? How should they (a specific indicator) be interpreted? and more. I am sure they will be the first-hand beneficiary of this document.
Even researchers at the intermediate level can also refresh their acquired knowledge by browsing through it.
Link to download the pdf version of the guide:-
Given these, it is good that India has a knowledge powerhouse like RBI. The researchers of RBI did a phenomenal task. They released a document to explain the important economic indicators that capture the development in the Indian economy. A link to the document is given below. The document should be read referring to the statistical tables given in RBI Monthly Bulletin.
I often come across passionate young economic & business researchers (in corporate and elsewhere) who struggle to find and learn the basics like How GDP is calculated in India? What is GVA? What are the components of GDP? What is the difference between real and nominal GDP? How is the money supply measured? What is repo rate? What is bond yield? Where can we get the data of fiscal deficit? What is investment and saving rate? How should they (a specific indicator) be interpreted? and more. I am sure they will be the first-hand beneficiary of this document.
Even researchers at the intermediate level can also refresh their acquired knowledge by browsing through it.