Improving Economic Insights: MoSPI Announces Key Changes to Economic Data Releases

The Ministry of Statistics and Programme Implementation (MoSPI) is poised to improve the frequency and timeliness of key economic data, introducing a private sector capital expenditure (capex) survey, monthly labour force reports, and a revised schedule for factory output data starting in FY26.

Change in Timeline of Key Economic Data

From April 2025, the Index of Industrial Production (IIP) data will be released on the 28th of each month, replacing the previous release date of the 12th. This change will reduce the time lag from 42 days to a more current monthly cycle, allowing industrial output data to be more aligned with other economic indicators and providing policymakers and analysts with more timely insights.

A new forward-looking private sector capex survey will be launched on April 30. This survey will examine the capital investment intentions of non-financial and financial corporations, compiling data on capex from the past three years and projections for the next two years. The survey will provide valuable insights into investment trends across industries and clarify private sector expansion plans for 2024-25 and 2025-26.

Government to Release PLFS Report

To address the increasing demand for more frequent employment data, the government will begin releasing monthly Periodic Labour Force Survey (PLFS) reports from May, covering both rural and urban areas. These reports will be published on the 15th of each month, with quarterly PLFS reports following a month after the quarter ends. A back-series dataset for at least the previous 12 months, adjusted for higher standard errors to ensure consistency, will also be available.

Introduced by the National Sample Survey Office (NSSO) in 2017, the PLFS currently publishes rural data annually and urban data quarterly. The transition to monthly releases is aimed at addressing gaps in labour market data, bringing government data in line with other employment indicators, such as the Centre for Monitoring Indian Economy (CMIE) surveys.

With these updates, MoSPI seeks to improve the accuracy, timeliness, and relevance of economic data, reinforcing its role in guiding policy decisions for both the government and the Reserve Bank of India (RBI).

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