Mumbai: The 15th Finance Commission will reconcile data from several sources for its report as a matter of prudence, the commission’s chairman said on Thursday, amid a cloud over the credibility of India’s key economic statistics. Mint reported on Tuesday citing a National Sample Survey Office (NSSO) report that India used a database riddled with holes to estimate its gross domestic product. Singh were in Mumbai to meet the Reserve Bank of India (RBI) governor, deputy governors and representatives of banks and financial institutions. He said this data includes key financial variables of states’ expenditure and debt from CAG, data on central government’s debt and public sector borrowings. In passing, it was mentioned to us that the Bimal Jalan Committee report is in fairly advanced stage of deliberations and they would be submitting their report, perhaps, well in time for the Union budget of July this year," said Singh.

Source: Mint May 09, 2019 12:22 UTC