MoSPI forges research partnerships in Kolkata with IDEAS and ISI to boost studies

The Ministry of Statistics and Programme Implementation (MoSPI) signed two Memoranda of Understanding (MoUs) with Institute of Data Engineering, Analytics and Science Foundation (IDEAS), Indian Statistical Institute (ISI), Kolkata for undertaking Research Studies. The collaboration aims to deepen the understanding of various statistics released by MoSPI and provide harmonisation with other data sources as part of the Government of India's 'Viksit Bharat @ 2047' initiative.

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Prelims-testable facts

01The Ministry of Statistics and Programme Implementation (MoSPI) signed two Memoranda of Understanding with Institute of Data Engineering, Analytics and Science Foundation (IDEAS) and Indian Statistical Institute (ISI), Kolkata.
02MoSPI will provide financial assistance and data support to IDEAS for undertaking research studies.
03IDEAS will develop a desktop-based software tool for GDP Nowcasting as part of the collaborative initiative.
04The collaboration aims to harmonise statistics released by MoSPI with other data sources, emphasizing data-driven decision-making in India.
05The partnership is an innovative knowledge-sharing platform between MoSPI and IDEAS.
06Shri Agnimitra Biswas, CEO of IDEAS, and Shri Prasoon Verma, Director of Training Unit at MoSPI, signed the MoUs.
07The collaboration aims to provide a real-time estimate of the country's current GDP growth.

Trap alerts

Most people think that MoSPI only works with government agencies, but actually it collaborates with private organizations like IDEAS for research studies.
Most people think that GDP Nowcasting is a new concept introduced by this collaboration, but actually it has been in use for some time and the partnership aims to improve its accuracy.

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