Page 16 - DECO504_STATISTICAL_METHODS_IN_ECONOMICS_ENGLISH

Statistical Methods in Economics

Notes Sources of Secondary Data

The main sources of secondary data are of two categories:
Published sources
Unpublished sources

Published Sources
The various government agencies, international bodies and local agencies generally publish sources
of data which are secondary in character. The following are some of the important published sources
of secondary data:
1. Official publications brought out by the Central, State and Local Governments such as Pay
Commission Reports, Indian Population Census Reports, etc.
2. Official publications brought out by the international bodies like International Monetary Fund
(IMF), International Bank for Reconstruction and Development (IBRD), United Nations
Organization (UNO), International Labour Organization (ILO), etc.
3. Reserve Bank of India’s publications of Bulletin, namely “RBI Bulletin” and the official records
of the nationalized commercial banks and the State Bank of India.
4. Publications of Trade Unions, Chambers of Commerce and Industry such as Federation of Indian
Chambers of Commerce and Industry, Trade Bulletins issued by Stock Exchanges and large
business houses.
5. Publications brought out by individual research scholars, Research centres, reports submitted
by economists and statistical organizations.
6. Publications brought out by the National Sample Survey Organization (NSSO) and Central
Statistical Organization (CSO).
Unpublished Sources
The following are some of the unpublished sources of data which are secondary in character:
1. Records of government offices and business concerns such as account books.
2. Research undertaken, by research institutions, scholars, site.
3. Unpublished sources of data are also available with Trade Unions, Chambers of Commerce,
Labour Bureaus, etc.
4. Central Bureau of Investigation (CBI) Records.
5. District Collectorate Office Records.
Precautions in Using Secondary Data

Secondary data should be used only after careful examination of the data. It is because of the fact that
the secondary data may sometimes be unsuitable, inadequate, inaccurate, unreliable and incomparable
to serve the purpose of the the present investigation or inquiry.
The following are some of the precautions in using secondary data:
1. The suitability of the data available for the purpose of the present inquiry should be ascertained.
2. The adequacy of the data available for the present analysis should be ascertained.
3. The degree of accuracy desired and actually achieved should also be taken into consideration.
4. The degree of reliability of secondary data is to be assessed from the source, the compiler and
his capacity to obtain current statistics for the purpose of interpretation.
5. The question of comparability of the data over a period of time should be assured.
6. The secondary data should be used only when the scope and object of the present inquiry are
commensurate with that of the original inquiry.

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