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The central government on Monday introduced the Indian Statistical Institute Bill, 2026, in the Lok Sabha, laying out a modern statutory framework for the Indian Statistical Institute (ISI) with a focused push toward data science, emerging technologies, and strategic industry collaboration. Union Minister Rao Indrajit Singh introduced the legislation, which seeks to repeal and replace the Indian Statistical Institute Act, 1959 while preserving the institute's designation as an Institution of National Importance. The legislation aims to transition the existing society into an autonomous statutory body corporate.

The Indian Statistical Institute Bill, 2026 seeks to provide for a comprehensive statutory framework to the Indian Statistical Institute, to excel as a globally recognised centre in Statistical Sciences and allied fields

Expanded Scope and New Governance

The legislation expands the statutory definition of Statistical Sciences and it includes "the fields of theoretical and applied statistics, mathematics, economics, data science, computer science and other quantitative sciences including biology, physics and earth sciences; and such other allied fields including quantitative social sciences and modern technologies, such as cryptology and other related disciplines as may be specified by the regulations."

Under the proposed law, the President of India will act as the Visitor of the institution, while administrative and policy decisions will rest with a newly structured Board of Governors headed by an eminent expert from academia, industry, public policy, or statistical sciences. The institute will have an Academic Council, which will act as its principal academic body and will be headed by the institute's director, the government Bill noted, adding that all full-time faculty members and professors will sit on the council.

Need for a Modern Framework

Detailing the necessity of replacing the former framework, government records highlight that previous legal provisions enacted in 1959 and amended in 1995 no longer match contemporary research and operational demands.

According to the Bill, the 1959 Act has limited provisions in respect of "with the evolving needs of India's growing and data-driven economy; AND WHEREAS, it is necessary to develop an ecosystem of high-quality statisticians and data scientists to support evidence-based decision making through the use of frontier technologies and to build deeper analytical capacity for the government, industry and society."

"It is, therefore, considered necessary to repeal the said Act and to enact a comprehensive legislation providing for the incorporation of the Indian Statistical Institute, an institution of national importance, to excel as a globally recognised centre in Statistical Sciences and allied fields," the Bill added.

New Powers and Future Impact

The measure grants ISI statutory authority to establish domestic and international campuses, issue degrees, incubate start-ups, and raise revenue for corpus funds to ensure long-term stability while remaining a non-profit entity.

"The legal reform will enable an ecosystem to train a new generation of high-quality data scientists and statisticians, bridging the massive talent gap currently facing India's tech and financial sectors. By modernising its governance, ISI can collaborate dynamically with industries to solve real-world analytical problems, driving innovation in sectors like fintech, agriculture, healthcare and logistics ," the Bill noted.

(ANI)