Data creation for public good can impact India's economy: CEA Dr K V Subramaniam

The Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman tabled the Economic Survey 2018-19 in the Parliament today. The Economic Survey 2018-19 was prepared and presented by Chief Economic Adviser Dr. Krishnamurthy V Subramanian. The budget was the second term of Narendra Modi's government will be presented tomorrow.

A significant point to note in the survey for the digital world is on Data.

In the survey, Dr. K V Subramanian said:

"Data Of the People, By the People, For the People

• Society’s optimal consumption of data is higher than ever given technological advances in gathering and storage of data.
• As data of societal interest is generated by the people, data can be created as a public good within the legal framework of data privacy.
• The government must intervene in creating data as a public good, especially of the poor and in social sectors.
• Merging the distinct datasets held by the Government already would generate multiple benefits."