Union Cabinet approves VISTAR scheme to revamp India's statistical system
Summary
- The Union Cabinet approved the three‑pronged VISTAR scheme to overhaul the country's statistical architecture.
- The scheme focuses on strengthening data collection, improving analytical capabilities and integrating artificial intelligence.
- It aims to generate fresh data on the unorganised sector to enhance the accuracy of the GDP estimate.
- VISTAR is expected to modernise statistical processes, ensuring timely and reliable economic indicators for policy‑making.
Key Facts
- · VISTAR stands for a three‑pronged initiative to strengthen data collection, analysis and AI integration.
- · Approved by the Union Cabinet in 2024.
- · Targeted at improving coverage of the unorganised sector in national accounts.
- · Seeks to make India's GDP figures more precise and internationally comparable.
Why it matters
Accurate and timely statistical data are essential for formulating effective economic policies, attracting investment, and benchmarking India's performance against global standards; the VISTAR scheme addresses long‑standing data gaps, especially in the large unorganised economy.
#VISTAR#statistical system#GDP#unorganised sector#AI integration#Union Cabinet