IMF report flags several delays in India’s data reporting

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  1. According to the International monetary fund(IMF) “Annual Observance Report of the Special Data Dissemination Standard for 2018”,India has failed to comply with multiple requirements prescribed in the Special Data Dissemination Standard (SDDS).
  2. The IMF launched the SDDS initiative in 1996 to guide members to enhance data transparency and help financial market participants with adequate information to assess the economic situations of individual countries.India had subscribed to the SDDS in 1996.
  3. There are over 20 data categories which IMF considers for this report to capture a nation’s economic health including national accounts (GDP, GNI), production indices, employment, and central government operations.
  4. The IMF has acknowledged India’s deviations in the SDDS but termed them non serious.However,India has said that its non-compliance with IMF standards is a one-off event due to technical glitches in the National Summary Data Page(NSDP).
  5. National Summary Data Page(NSDP) provides quick access to a single comprehensive source of economic and financial data.The IMF requires that these data should be available at regular intervals in public domain.