Revised Base Year
Government Releases New Series of National Accounts for GDP 2026: The Ministry of Statistics and Programme Implementation (MoSPI) has announced that a new series of national accounts will be released on 27 February 2026, adopting fiscal year 2022–23 as the base year. This move replaces the existing base year of 2011–12 that was set in 2015. The revision aims to reflect structural changes in the economy and updated methodological standards.
Static GK fact: India’s national accounts base year was previously changed in 2015 from 2004–05 to 2011–12.
Purpose and Rationale
Revising the base year is essential to ensure that key aggregates like Gross Domestic Product (GDP) and Gross Value Added (GVA) accurately mirror contemporary economic realities. The update will:
- Reflect the expansion of the digital services industry and the gig economy.
- Integrate new and improved data sources for the informal and unorganised sectors.
- Align methodologies with international standards like System of National Accounts 2008 (SNA 2008).
These changes will enhance the relevance of data used for policy, planning and economic forecasting.
Advisory Committee and Methodology
A high-level advisory body, the Advisory Committee on National Account Statistics (ACNAS), chaired by B. N. Goldar, has been tasked with steering the revision process. The committee’s role includes recommending new data sources, suggesting refined compilation methods, and ensuring improved analytical value of the national accounts.
Static GK fact: Such revisions are typically carried out every 4–6 years to keep pace with structural economic change.
Discussion Papers and Stakeholder Engagement
To ensure transparency, MoSPI is releasing a series of discussion papers. The first paper addresses production- and income-based estimates of GDP and GVA. The upcoming paper will focus on expenditure-based estimates, covering consumption, investment, government spending and net exports. These papers are intended for economists, researchers, students and policymakers to help them understand the implications of the new series.
Expected Benefits
The new series is expected to yield more accurate and relevant economic indicators by:
- Capturing the informal and unorganised sectors more effectively.
- Representing emerging sectors like digital platforms and gig work.
- Improving the timeliness and robustness of data for policy decisions and economic modelling.
With the economy shifting rapidly, such updates bolster evidence-based economic governance.
Conclusion
The national accounts revision scheduled for February 2026 marks a significant step in aligning India’s economic measurement framework with contemporary realities. The base year update to 2022–23, guided by ACNAS and supported by discussion papers, promises enhanced accuracy and usefulness of macro-economic data. Stakeholders across policy, research and education domains will benefit from better insights into the evolving Indian economy.
Static Usthadian Current Affairs Table
Government Releases New Series of National Accounts for GDP 2026:
| Topic | Detail |
| New base year | 2022–23 |
| Previous base year | 2011–12 |
| Release date | 27 February 2026 |
| Conducting organisation | Ministry of Statistics and Programme Implementation |
| Advisory committee | Advisory Committee on National Account Statistics (ACNAS) |
| Chairperson of committee | B. N. Goldar |
| Purpose of revision | Reflect structural shifts, incorporate new data sources, align with international standards |
| Key benefit | More accurate measurement of informal sector and digital economy |
