Delivering the keynote address at the golden jubilee function of the National Sample Survey Organisation, he said, "The Indian statistical system, as it stands now, suffers from serious deficiencies in relation to all these dimensions. Some of these deficiencies, which could have been ignored in an earlier period, can no longer be done in view of the various developments in the economy."

While the volume of data to be processed have enormously increased, developments in information technology have placed at our disposal extraordinary capabilities to process and analyse huge volume of data, Rangarajan said.

Credibility or reliability has to be the fundamental attribute of any set of data, he pointed out. Credibility rests on three elements - the methodology adopted, the efficiency of data-collecting organisation and the primary data collecting units, and the independence given to the statistical authority.The authority must be empowered to release the data without any interference by political or administrative authorities, he added.

Timeliness of data should not result in any compromise with the quality of data, Rangarajan said. "What is really required is to make available quality data in time."

On the aspect of adequacy, he said that in some case, even appropriate means for collecting certain data are yet to be instituted, he said. "Our task is to find ways and means through which objectives can be achieved."

Speaking on the occasion, minister of statistics Arun Shourie said that the entire reforms process could be derailed if, depending on improper data, people continue to say that poverty has increased because of the reforms. The fact that public discourse in India is not dominated by experts is a bane, he said. It is due to the NSS that many issues came into the limelight, the minister pointed out.

KV Irniraya, secretary, department of statistics and programme implementation, said that there was a growing recognition that data on critical subjects like consumer expenditure and employment should be made available from a large sample on an annual basis for monitoring poverty and the employment situation in the country.

The country has also subscribed to the special data dissemination standard (SDDS) of the IMF and according to this standard quarterly estimates of gross domestic product (GDP) have to be worked out, Irniraya said.