Major Statistical Revision Announced
India Moves to Update GDP CPI and IIP Statistical Base: The Ministry of Statistics and Programme Implementation (MoSPI) has announced a revision of the base year for key macroeconomic indicators. The new base year for GDP and IIP will be 2022-23, while for CPI it will be 2024.
The updated CPI series will be released on 12 February 2026, the GDP series on 27 February 2026, and the IIP series in May 2026. This phased rollout aims to ensure consistency and technical preparedness.
Understanding Base Year Revision
A base year is the reference year used to measure changes in economic indicators. Over time, economic structures evolve due to technology, services expansion, and shifting consumption patterns.
Periodic revision ensures updated sectoral weights, improved methodology, and better international comparability. Static GK fact: India previously revised the GDP base year to 2011-12, replacing 2004-05.
Such revisions reflect structural changes in the economy, including growth in digital services, formalization, and industrial diversification.
New Base Years and Schedule
MoSPI has proposed the following changes:
- GDP – 2022-23
- IIP – 2022-23
- CPI – 2024
The new statistical series will be introduced in early 2026. This aligns India’s data framework with global statistical standards recommended by international bodies.
Static GK Tip: GDP measures the total value of final goods and services produced within a country during a specific period.
Methodological Strengthening
The revision process is guided by Technical Advisory Committees and expert groups, including representatives from the Reserve Bank of India (RBI) and academia.
MoSPI has integrated data from major surveys such as the Periodic Labour Force Survey (PLFS), Household Consumption Expenditure Survey (HCES), and Annual Survey of Unincorporated Sector Enterprises (ASUSE).
Improvements include larger sample sizes, modified sampling design, updated survey tools, and revised sectoral weightage. These steps enhance reliability and sectoral representation.
Measures to Enhance Transparency
To strengthen credibility, MoSPI has introduced digital validation systems and an Advance Release Calendar (ARC). The launch of the e-Sankhyiki portal improves public access to statistical data.
Unit-level survey data is being made available to researchers. The circulation of the National Meta Data Structure (NMDS) clarifies methodology and data sources.
Static GK fact: The CPI is compiled by the National Statistical Office (NSO) and measures retail inflation affecting households.
Parliamentary Oversight
The announcement was made by Rao Inderjit Singh in a written reply in the Lok Sabha. The revision aligns India’s statistical framework with international best practices and enhances transparency in public data systems.
This update reflects India’s commitment to credible, evidence-based policymaking and improved economic measurement.
Static Usthadian Current Affairs Table
India Moves to Update GDP CPI and IIP Statistical Base:
| Topic | Detail |
| Ministry Responsible | Ministry of Statistics and Programme Implementation |
| GDP Base Year | 2022-23 |
| IIP Base Year | 2022-23 |
| CPI Base Year | 2024 |
| CPI Release Date | 12 February 2026 |
| GDP Release Date | 27 February 2026 |
| IIP Release Timeline | May 2026 |
| Key Surveys Used | PLFS, HCES, ASUSE |
| Transparency Initiative | e-Sankhyiki portal |
| Previous GDP Base Year | 2011-12 |
