Indian govt mulling changing base year from 2011-12 to 2022-23 for calculating GDP
3 weeks, 3 days ago

Indian govt mulling changing base year from 2011-12 to 2022-23 for calculating GDP

Firstpost  

Regularly updating the base year is essential to ensure that indices accurately reflect changes in the economy’s structure, such as shift in consumption pattern, sector weight and the incorporation of new sectors India is mulling shifting the base year for calculating GDP to 2022-23. File image The government is considering changing the base year for computation of the GDP to 2022-23 in February 2026 to reflect an accurate picture of the economy, a top government official said. Addressing an event here, Ministry of Statistics and Programme Implementation Secretary Saurabh Garg further said the ministry will come up with monthly estimates of Periodic Labour Force Survey from January next year. Regularly updating the base year is essential to ensure that indices accurately reflect changes in the economy’s structure, such as shift in consumption pattern, sector weight and the incorporation of new sectors.

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History of this topic

Centre changing GDP base year, Parliament told
3 weeks ago

Centre changing GDP base year, Parliament told

Hindustan Times  

The Centre has decided to update the base year for calculating India’s gross domestic product or GDP, the widest measure of national income, minister of state statistics and programme implementation Rao Inderjit Singh told Lok Sabha in a written reply on Monday. The base year is being updated from 2011-12 to 2022-23 and an advisory committee on national accounts statistics …

Government changing base year for GDP, Rao Inderjit Singh tells Parliament
Trending News
3 weeks ago

Government changing base year for GDP, Rao Inderjit Singh tells Parliament

Hindustan Times  

NEW DELHI: The Centre has decided to update the base year for calculating India’s gross domestic product or GDP, the widest measure of national income, minister of state statistics and programme implementation Rao Inderjit Singh told Lok Sabha in a written reply on Monday. The Union government is also planning to conduct the Periodic Labour Force Survey, which gives official …

New GDP and CPI Base Year To Take Effect From February 2026: MOSPI
3 weeks, 2 days ago

New GDP and CPI Base Year To Take Effect From February 2026: MOSPI

ABP News  

The revised base years for national accounts, including GDP and other key macroeconomic indicators such as the consumer price index, are set to take effect from February 2026, a senior government official confirmed on Friday. Saurabh Garg, Secretary of the Ministry of Statistics and Programme Implementation stated, "The new series for macro-indicators will be implemented from February 2026, and fiscal …

Govt may include e-commerce data, expand coverage to improve calculation of retail inflation
1 month ago

Govt may include e-commerce data, expand coverage to improve calculation of retail inflation

Live Mint  

New Delhi: The government has proposed including e-commerce data to prepare a new base year to measure retail inflation, as part of a broader initiative to better reflect contemporary consumer spending patterns. The proposed revisions to the Consumer Price Index include leveraging modern data collection techniques such as sourcing price information from e-commerce platforms, expanding coverage beyond the major cities, …

Economy to grow by 7.3 per cent in current fiscal against 7.2 per cent in 2022-23, govt estimates
11 months, 2 weeks ago

Economy to grow by 7.3 per cent in current fiscal against 7.2 per cent in 2022-23, govt estimates

India TV News  

The government on Friday estimated that the Indian economy will grow by 7.3 per cent in current fiscal against 7.2 per cent expansion in Financial Year 2022-23. Releasing the first advance estimates of National Income for 2023-24, the NSO said, "Real GDP or GDP at Constant Prices in the year 2023-24 is estimated to attain a level of Rs 171.79 …

Wrong to assess economic activity on GDP alone: Finance Ministry
1 year, 3 months ago

Wrong to assess economic activity on GDP alone: Finance Ministry

The Hindu  

The Finance Ministry on September 15 scotched aspersions cast by “certain sections” on the credibility of Indian GDP data, which showed a 7.8% uptick in the first quarter of this year, stressing that Indian GDP data is not seasonally adjusted and is finalised three years later so “it is wrong to look at the underlying economic activity based on GDP …

FY23 GDP growth hits 7.2% after a strong Q4
1 year, 6 months ago

FY23 GDP growth hits 7.2% after a strong Q4

Hindustan Times  

The Indian economy grew at 7.2% in the fiscal year 2022-23, positively surprising most analysts and exceeding the government’s own projection of 7% GDP growth. GDP growth in the quarter ending March 2023 was 6.1%, which is a full percentage point higher than the median forecast of 5.1% by a Bloomberg poll of economists. While goods and services exports grew …

GDP growth may cross 7% in 2022-23: RBI Governor
1 year, 6 months ago

GDP growth may cross 7% in 2022-23: RBI Governor

The Hindu  

India’s GDP growth in 2022-23 may well surpass the 7% estimate, while retail inflation is likely to go below the 4.7% mark this month, and gross non-performing assets in the banking system have likely dipped further in the January to March 2023 quarter, Reserve Bank of India Governor Shaktikanta Das said on Wednesday. “I will not be surprised if India’s …

GDP grew 8.7% in 2021-22 against 6.6% in previous fiscal: Govt
2 years, 6 months ago

GDP grew 8.7% in 2021-22 against 6.6% in previous fiscal: Govt

India TV News  

Highlights Indian economy expanded by 8.7 per cent in 2021-22 against a 6.6 per cent contraction in 2020-21. The GDP grew by 4.1 per cent in the fourth quarter of 2021-22, showed govt data. India's economy grew by 4.1 per cent in the fourth quarter of 2021-22, pushing up the annual growth rate to 8.7 per cent, official data showed …

From steady growth to lower inflation: 6 key takeaways from RBI Annual Report 2022-23
2 years, 10 months ago

From steady growth to lower inflation: 6 key takeaways from RBI Annual Report 2022-23

India Today  

The Reserve Bank of India on Tuesday released its annual report 2022-23, where it shed light on different aspects of the Indian economy, ranging from GDP growth to inflation. Moderate inflation risks The RBI said inflation has moderated with downward corrections in global commodity and food prices and “easing of the pass-through from high input cost pressures of last year”. …

India economy to grow at quickest pace among large nations: Finmin report
2 years, 10 months ago

India economy to grow at quickest pace among large nations: Finmin report

The Hindu  

The Indian economy is poised to grow at the quickest pace among the league of large nations on the back of various initiatives taken by the government in Budget 2022-23, said the Finance Ministry's Monthly Economic Review. "In a testimony to the resilience of its people and the farsightedness of its policymaking, the Indian economy that contracted by 6.6 per …

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