Why in the News
The Ministry of Statistics and Programme Implementation will release a new GDP series on February 27, 2026, updating the base year to 2022-23 and introducing major data and methodological improvements.
Key Changes
1. Base Year Updated
- From 2011-12 to 2022-23
- Reflects current economic structure including digitalisation and formalisation
2. Better Corporate & Government Data
- Sector-wise allocation based on actual activity share
- Inclusion of government housing services
- Expanded coverage of autonomous and local bodies
3. Stronger Household & Informal Sector Estimates
- Annual use of ASUSE and PLFS data
- More granular measurement of private consumption
4. New Data Sources
- Wider use of GST data for output estimation
- Banking data from Reserve Bank of India
- Actual NBFC data instead of proxy estimates
5. Technical Upgrade
- Use of double deflator method for better real GDP estimation
Prelims Takeaway
- GDP and GVA series now aligned to 2022-23 base year
- GST integrated more deeply in estimation
- Informal and unincorporated sector measurement improved
- Double deflation enhances accuracy of real growth calculation
| [2013] The national income of a country for a given period is equal to the (a) total value of goods and services produced by the nationals
(b) sum of total consumption and investment expenditure (c) sum of personal income of all individuals (d) money value of final goods and services produced |
