Indian govt mulling altering base 12 months from 2011-12 to 2022-23 for calculating GDP – Firstpost

The federal government is contemplating altering the bottom 12 months for computation of the GDP to 2022-23 in February 2026 to mirror an correct image of the economic system, a prime authorities official stated.

This would be the first revision in over a decade. It was final achieved in 2011-12.

Addressing an occasion right here, Ministry of Statistics and Programme Implementation (MoSPI) Secretary Saurabh Garg additional stated the ministry will provide you with month-to-month estimates of Periodic Labour Pressure Survey (PLFS) from January subsequent 12 months.

“…subsequent base 12 months (GDP) might be 2022-23…might be carried out from February 2026,” Garg stated.

The 26-member Advisory Committee on Nationwide Accounts Statistics (ACNAS), which was constituted beneath the Chairmanship of Biswanath Goldar, is anticipated to finish the train by early 2026.

Usually updating the bottom 12 months is important to make sure that indices precisely mirror modifications within the economic system’s construction, equivalent to shift in consumption sample, sector weight and the incorporation of recent sectors.

Garg stated that MoSPI is in means of beginning process of financial census.

He additionally pitched for selling knowledge pushed choice making.

Garg additionally favoured higher knowledge governance by means of uniform tips.

He lamented that among the prosperous neighbourhood are refusing to speak to ministry’s surveyors.