New Delhi, Feb. 20 -- On 27 February, India's statistics ministry is expected to release the second of the three major macro-economic variables-retail inflation, GDP and Index of Industrial Production-currently being revamped. As with last month's inflation number, the new GDP series will have a new base year (2022-23) and feature extensive changes in methodology and coverage to better reflect the state of our economy.

Globally, decision-makers rely on economic statistics as a dashboard to frame policy. Being left in the dark is too risky. One needs a clear view of current conditions and future projections, for example, to make an apt call on when to fuel growth or step on the brakes to slow inflation.

So, the ministry must be commended...