RBI clarifies IMFโ€™s remarks on its data
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RBI clarifies IMFโ€™s remarks on its data

MUMBAI: RBI deputy governor Poonam Gupta has responded to recent IMF comments questioning the quality of Indiaโ€™s growth data and classifying the rupeeโ€™s exchange rate regime as a โ€œcrawling pegโ€ within a managed float system.On the concern regarding data quality, Gupta said that the IMFโ€™s critique is more procedural than substantive. โ€œThe point that theyโ€™re making on what is perceived to be the quality of our statistics is a very limited one,โ€ she said, stressing that the IMFโ€™s taxonomy focuses on whether statistical data submissions have gaps that affect surveillance and not on disputing the inherent quality or โ€œsanctity of the numbersโ€ themselves.On IMFโ€™s classification of the Indian rupeeโ€™s exchange rate regime, Gupta offered context on the broader global framework, and said, โ€œI would not read much into it. Itโ€™s just based on cross-country comparison of India having this much volatility compared to some other countries.โ€ She said India remains firmly in the managed float category like most emerging markets.



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