Economic Advisor of India, C. Rangarajan said here today that the statistical system needs to be strengthened with changing circumstances as it is important to understand how the country's economy is performing.
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Rangarajan, on the occasion of 7th national statistics day spoke in particular about the theme of the conference - labour and employment.
He emphasised on the importance of having data on information related to labour and employment.
"The relevance and importance of collecting data relating to labour and employment cannot be over emphasized. These data are critical to understand how an economy functions. Ultimately, the objective of all governments is to create and sustain an environment in which everybody who is willing to work finds a job," said Rangarajan.
Rangarajan added that the employment rate is a good parameter to judge the performance of the economy as good quality jobs come only if there is faster economic growth.
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The economic advisor also talked about the importance of timely, accurate and credible data collection. But, it was a difficult task because of the unpaid work forces in the rural areas.
"Generally, timely labour and employment statistics is a challenging task in a developing economy like India on account of predominance of the unorganized and the informal sectors," Rangarajan said.
He said that the use of sample surveys was limited only to certain areas and the country needs to go beyond that method.
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