New Delhi, Dec 25 The process for base revision of macro-economic indicators — CPI, IIP and GDP — has reached at an advanced stage, and the new series of GDP with base year 2022-23 will be released on February 27, 2026, according to the government.
The new series of CPI with base year 2024 is slated to be released on February 12 while the new IIP series with base year 2022-23 will be released on May 28.
Discussion papers have been placed in public domain and workshops held for taking feedback from users and various stakeholders, said the Ministry of Statistics and Programme Implementation.
For the base year revision for GDP, an Advisory Committee on National Accounts Statistics (ACNAS) and five domain-specific sub-committees have been constituted by MoSPI and more than 30 sub-committee meetings and 4 ACNAS meetings have been held.
MoSPI has engaged with various ministries and departments, wherever input-data dependencies exist.
Key improvement areas include: Integration of administrative data (GST, PFMS, e-Vahan); other datasets and latest survey data; improved methods for corporate activity classification; shift from single deflation to double deflation and volume/single extrapolation; and development of robust sub-national estimates.
For the base year revision for CPI, MoSPI constituted an Expert Group (EG) with domain experts, of which 11 meetings have been held.
Stakeholder consultations with experts/professional forecasters/banking and financial institutions including RBI and IMF have been undertaken.
For the base year revision for IIP, Technical Advisory Committee for base year revision of IIP (TAC-IIP) have been constituted and eight meetings held. Continuous engagement and consultations have been held with industry associations and data-source Ministries/Departments, said the ministry.
Moreover, annual survey results are now released within 90-120 days, quarterly results within 45-60 days and monthly results within 15-30 days of completion of surveys. Sample design for Periodic Labour Force Survey (PLFS) and Annual Survey of Unincorporated Sector Enterprises (ASUSE) modified/enhanced for generation of monthly and quarterly estimates and generating district level estimates, the ministry informed.
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