Every economy highlights the national income accounts as the most effective tool available for the assessment of overall economic performance and development. In November 2025, the International Monetary Fund assigned India’s national accounts statistics, a “C” grade in its Data Quality Assessment Framework. The rating signals methodological shortcomings that somewhat hamper effective macroeconomic surveillance. The assessment focuses on technical issues rather than on the underlying performance of the Indian economy. But the issues highlighted needs to be taken care of with utmost care and significance for ensuring a transparent and efficient accounting system. This article explains the principal concerns raised by the IMF, examines their practical consequences, places India’s experience in international perspective in the light of the scholarly literature on constraints of national income accounting in developing economies in general and the national income accounting framework of India. Finally, a listing of the substantial reforms in the area that are already under way with the mentioned expectations are also included.