The Ministry of Statistics and Programme Implementation (MoSPI) has said that it periodically reviews statistical methods so that official statistics remain representative of India’s changing economy and remain usable for new data requirements. The Ministry’s latest update matters because it combines macroeconomic base revision with survey modernisation, both of which affect how India measures growth, inflation, industrial output, and socio-economic conditions.

What MoSPI said

MoSPI said it has carried out comprehensive base revision exercises for three core indicators: Gross Domestic Product (GDP), All India Index of Industrial Production (IIP), and Consumer Price Index (CPI). The stated purpose is to keep these series aligned with the evolving structure of the economy and with international statistical standards.

According to MoSPI, the GDP base year has been revised from 2011–12 to 2022–23 on the recommendation of the Advisory Committee on National Accounts Statistics (ACNAS). The IIP base year has been revised from 2011–12 to 2022–23 under the guidance of the Technical Advisory Committee on IIP. The CPI base has been revised from 2012=100 to 2024=100 under the guidance of an expert group constituted for that purpose.

MoSPI said these revisions incorporate updated data sources, expanded coverage, revised item baskets and weights, improved estimation methods, stronger use of administrative sources such as the Goods and Services Tax (GST) and Ministry of Corporate Affairs (MCA) database, improved estimation of the unincorporated sector using the Annual Survey of Unincorporated Sector Enterprises (ASUSE) and the Periodic Labour Force Survey (PLFS), and other methodological refinements.

Background and earlier position

Related current affairs