Indian economic policy

INDIAN NATIONAL income statistics as a continuing series begins with the fiscal year 1948-1949. Compiled by the Central Statistical Organisation (CSO), attached to the Cabinet. Secretariate, they are based on the principles outlined by the First Report, issued in 1951, and the Final Report, issued in 1954, of the Committee appointed by the Government of India in 1949 under the Chairmanship of Professor P. C. Mahala nobis "to make recommendations regarding the compilation of the estimates of national income, the improvement of the statistical data on which the estimates were based and the promotion of research in the field of national income". Issued annually as a White Paper entitled "Estimates of National Income", the latest number, the thirteenth in the series, is dated March 1966 and relates to the period 1948-1949 to 1964 65. The figures for 1964-65 are "Provisional"; the figures for the earlier years are "final".

The time lag in the statistics has progressively diminished, that in the tenth issue being ten months. As a corrective to the time lag, the CSO has been issuing, more generally in August, "quick" estimates for the latest year not covered by the published statistics; for the year 1961-1962, the "quick" estimates were published in October, 1962 and for 1962-63 in November, 1963.