The government has progressed in revising key macro-economic indicators like CPI, IIP, and GDP. The new GDP series, based on 2022-23, is set for release on February 27, 2026. Additionally, the new CPI series with a base year of 2024 will be unveiled on February 12, while the revised IIP series with a base year of 2022-23 is scheduled for May 28.
The Ministry of Statistics and Programme Implementation has made discussion papers available to the public and conducted workshops to gather feedback from users and stakeholders. To facilitate the GDP base year revision, an Advisory Committee on National Accounts Statistics (ACNAS) and five domain-specific sub-committees have been established.
Efforts have been made to enhance data integration by incorporating administrative data such as GST, PFMS, and e-Vahan, along with other datasets and recent survey data. The methodology for corporate activity classification has been improved, transitioning from single deflation to double deflation and volume/single extrapolation. Robust sub-national estimates are being developed as part of the revision process.
The revision for CPI involves an Expert Group (EG) with domain experts, having conducted 11 meetings so far. Stakeholder consultations, including with experts, professional forecasters, and financial institutions like RBI and IMF, have been carried out. For the IIP base year revision, the Technical Advisory Committee for IIP (TAC-IIP) has been formed, holding eight meetings and engaging with industry associations and data-source Ministries/Departments.
Furthermore, the ministry has streamlined the release of survey results, ensuring annual results within 90-120 days, quarterly results within 45-60 days, and monthly results within 15-30 days of survey completion. Modifications have been made to the sample design for surveys like the Periodic Labour Force Survey (PLFS) and Annual Survey of Unincorporated Sector Enterprises (ASUSE) to generate monthly, quarterly, and district-level estimates.
