Govt. Plans GDP Base Year Change to 2022–23 by 2026
1 month, 1 week ago

Govt. Plans GDP Base Year Change to 2022–23 by 2026

Deccan Chronicle  

New Delhi: The government is mulling a change in the base year for computation of the gross domestic product to 2022-23 in February 2026 to reflect an accurate picture of the economy. This comes at a time when the GDP growth for the second quarter showed an unimpressive growth Addressing an event here, ministry of Statistics and Programme Implementation secretary Saurabh Garg said that the ministry would come up with monthly estimates of periodic labour force survey from January next year. The next base year will be 2022-23 and it wii be implemented from February 2026," Mr Garg said. Regularly updating the base year is essential to ensure that indices accurately reflect changes in the economy's structure, such as shifts in consumption patterns, sector weight and the incorporation of new sectors.

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History of this topic

Centre changing GDP base year, Parliament told
1 month, 1 week 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
1 month, 1 week 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
1 month, 1 week 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 …

Indian govt mulling changing base year from 2011-12 to 2022-23 for calculating GDP
1 month, 1 week 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 …

Base year of CPI, GDP, IIP being revised
5 months, 2 weeks ago

Base year of CPI, GDP, IIP being revised

Deccan Chronicle  

Chennai: The Ministry of Statistics and Programme Implementation has started an extensive exercise to revise the base year of important data, including the Consumer Price Index, GDP and Index of Industrial Production. It is important that the base year of critical data series like the GDP, different price indices and volume indices like the Index of Industrial Production are updated …

FY23 GDP growth hits 7.2% after a strong Q4
1 year, 7 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, 7 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 …

Number Theory: What does the Economic Survey tell us about the Budget?
1 year, 11 months ago

Number Theory: What does the Economic Survey tell us about the Budget?

Hindustan Times  

What does the 2022-23 Economic Survey -- it was tabled in Parliament on January 31 -- tell us about the Union Budget? UNION BUDGET 2023: FULL COVERAGE The moderation in nominal growth is more because of a decline in inflation rather than a fall in real GDP growth, which as per survey’s baseline projection is likely to be 6.5% next …

Economic Survey 2022-23 Highlights: 6.5% FY24 GDP Growth, Inflation To Be 'Less Stiff', CAD Concerns
1 year, 11 months ago

Economic Survey 2022-23 Highlights: 6.5% FY24 GDP Growth, Inflation To Be 'Less Stiff', CAD Concerns

News 18  

A day ahead of the Budget 2023, Finance Minister Nirmala Sitharaman on Tuesday presented the Economic Survey 2022-23 in Parliament. According to the Survey, India’s economic growth for the next financial year 2023-24 is pegged at 6-6.8 per cent with a baseline real GDP growth of 6.5 per cent. Here’re the highlights of the Economic Survey 2022-23: India’s Economic Growth …

GDP grew 8.7% in 2021-22 against 6.6% in previous fiscal: Govt
2 years, 7 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”. …

Budget 2022-2023: Key Highlights
2 years, 11 months ago

Budget 2022-2023: Key Highlights

India TV News  

Finance Minister Nirmala Sitharaman on Tuesday unveiled a bigger Rs 39.45 lakh crore Budget. Following are the highlights of the Union Budget for 2022-23 presented by Finance Minister Nirmala Sitharaman in Parliament on Tuesday: FISCAL POSITION India’s growth estimated at 9.2 pc, to be highest among large economies Fiscal deficit in 2022-23 estimated at 6.4 pc of GDP Total expenditure …

Economic Survey 2020: CEA K Subramanian takes on predecessor Arvind Subramanian for questioning India’s GDP numbers
4 years, 11 months ago

Economic Survey 2020: CEA K Subramanian takes on predecessor Arvind Subramanian for questioning India’s GDP numbers

Firstpost  

The Economic Survey has projected a 6-6.5% GDP growth for 2020-21. One interesting thing in the Economic Survey 2020 is that Chief Economic Adviser Krishnamurthy Subramanian has devoted an entire chapter to play down the doubts raised by his predecessor, Arvind Subramanian on the accuracy of the country’s GDP estimates. In 2019, former CEA Arvind Subramanian had triggered a controversy …

New base year for GDP series to be decided in a few months, govt awaits industries, consumer expenditure surveys
5 years, 2 months ago

New base year for GDP series to be decided in a few months, govt awaits industries, consumer expenditure surveys

Firstpost  

The decision to change the base year would be taken in the next few months, said. New Delhi: The Ministry of Statistics and Programme Implementation will decide on a new base year for the Gross Domestic Product series in a few months, a senior official said on Tuesday. The Ministry of Statistics and Programme Implementation is working to bring in …

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