Friday, July 29, 2011

Policymaking marred by incorrect data

....Dr. Subbarao has included in his critique not only the index of industrial production (IIP) numbers (which, he said, showed “counter-intuitive trends”), but also the data on unemployment and wages, growth and inflation – all of which, he regretted, “do not inspire confidence (and) on some instances led to off-the-mark estimates on the economy…(and) policy miscalculations”! .....

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