The Parliament passed the Indian Statistical Institute Act, 1959 which declared the Institute as an “Institution of National Importance” and empowered it to award degrees and diplomas in Statistics. The first computer of the country was installed in ISI in 1960. Subsequently, ISI made significant contributions to the development of advanced numerical algorithms.
Mahalanobis’ mastery over empirics was exemplary as illustrated in using the method of fractal graphical analysis of consumption data, which was published in Econometrica (1960). It is also understood that the concept of interpenetrative sub-sampling and pilot survey, pioneered by Mahalanobis, essentially form the basis of sequential analysis and modern bootstrap methods.