India has recently implemented significant statistical reforms to enhance the accuracy and relevance of economic data. These reforms include updating base years for GDP, Consumer Price Index (CPI), and Index of Industrial Production (IIP), as well as improving the measurement of informal and services sectors. The government’s efforts aim to align official data with the current economic landscape.
Moreover, the reforms focus on enhancing data quality, timeliness, and public access. By revising the base years for GDP estimates to 2022-23 and CPI to 2024, India reflects new economic structures and consumption patterns. The Index of Industrial Production (IIP) is also being aligned with the new national accounts series for better accuracy.
These initiatives are designed to strengthen the statistical foundation for evidence-based policymaking, decentralized planning, and public discourse. With the evolving economic scenario, periodic updates to base years ensure that economic indices accurately reflect structural changes and evolving prices. The reforms also aim to adopt international best practices to maintain the credibility and relevance of India’s official statistics.
Reforms in measuring the informal sector have been introduced through quarterly QBUSE bulletins and district-level estimations. Public access to official data has been expanded through platforms like GoIStats, e-Sankhyiki, and the revamped Microdata Portal, promoting transparency and data reuse.
