The Central government is looking at revamping the data collection system in the country, it is learnt.
Official sources told CNBC-TV18 that steps including revising the base year to calculate growth, retail inflation and industrial output, among others are in the works.
Some of the key reforms that are expected include faster implementation of revised base years, new poverty line definition with consumer and expenditure survey findings and better gathering of core sector statistics.
The government is also looking at statutory mandate for National Statistical Commission as an oversight body. An independent assessor for statistical audit is also being weighed.