India will reset the base years for gross domestic product and consumer price inflation later this month, according to the Ministry of Statistics and Programme Implementation.

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The GDP base year will be revised to 2022–23 from 2011–12. The consumer price index base year will be changed to 2024 from 2012. The revisions were referenced by the government after the Union Budget for 2026–27 and are scheduled to be implemented before the end of February.

The base year revision will apply to all future releases of GDP and CPI data. Once notified, the earlier series will be discontinued for official reporting, the statistics ministry said.

India has been using the 2011–12 base year for GDP estimates for more than a decade. CPI inflation has been calculated using a 2012 base year during the same period. The government has said the reset is part of its regular statistical update process.

Under the revised GDP series, economic growth will be measured using prices, sectoral weights and production structures from 2022–23. The ministry said updated estimates may also be provided for previous years on the revised base for comparison.

For inflation, CPI readings will be measured against a revised consumption basket based on household expenditure data used for the 2024 base year. The revised index will be used for all future inflation publications.

The Ministry of Statistics and Programme Implementation has stated that rebasing does not reflect a sudden change in economic conditions. The exercise alters the reference framework used for calculations.
Following the revision, headline growth and inflation figures may differ from those calculated under the earlier base years. Officials have said such differences arise due to changes in weights, prices and classification methods.

GDP and CPI data are used by the Reserve Bank of India and the central government for monetary policy, fiscal planning and official reporting. The revised series will serve as the reference for these purposes once implemented.

The government has indicated that the base year reset will not affect actual prices, wages or spending levels. The changes are limited to statistical measurement and presentation.

The statistics ministry has said the revision aligns India’s economic indicators with more recent data and replaces base years that no longer reflect current economic structures.

All official GDP and CPI releases after the implementation date will reference the revised base years, the ministry said.