Data should be treated as asset in national accounts: Saurabh Garg

New Delhi: Data should be treated as an asset in national account statistics, said ministry of statistics and programme implementation (MoSPI) secretary Saurabh Garg.

He noted that until recently, land, labour, capital and technology were considered as factors of products. However, now a fifth factor, which is data in itself, should be recognised.

"In the GDP (gross domestic product) accounts, we need to now think of data as an asset, which we have never thought of," he said.


The United Nations System of National Accounts (SNA) 2025 recognised data as an asset.

Garg pointed out that around 60 ministries and departments across the government have statistical service officers responsible for managing data. This, he said, gives an opportunity to promote the concept of data as an asset across ministries and departments, while also working closely with the state governments to strengthen their directorate of economics and statistics.

He was speaking at the 18th foundation day of National Statistical Systems Training Academy, under MoSPI, on Friday.

Garg highlighted that among the 12 focus areas identified at the chief secretaries conference in December was better use of data for development both by central and state governments.

"In April, we will deliberate with all the state governments and other agencies to focus on this with the objective to go back in December to the next chief secretaries conference on what has been the progress made in this," he said.

Rao Inderjit Singh, minister of state (independent charge) for MoSPI, emphasised the need to transition from traditional methods to technology-driven systems. "We must equip our officers to integrate survey-based data with emerging sources such as big data, AI, machine learning while ensuring accuracy, reliability, transparency and adherence to global standards." He added that strengthening capacity across central and state statistical systems is essential to building trust in data, maintaining quality and enabling inclusive planning in pursuit of the vision of a Viksit Bharat by 2047.