India To Reset GDP And CPI Base Years Later This Month

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.

भारतीय मार्केटमध्ये इन्व्हेस्ट करा आणि 5paisa सह भविष्यातील क्षमता अनलॉक करा!

आत्ताच अकाउंट उघडा

जीडीपी आधार वर्ष 2011-12 पासून 2022-23 पर्यंत सुधारित केले जाईल. ग्राहक किंमत निर्देशांक आधार वर्ष 2012 पासून 2024 मध्ये बदलले जाईल. 2026-27 साठी केंद्रीय अर्थसंकल्प नंतर सरकारने सुधारणांचा संदर्भ दिला होता आणि फेब्रुवारीच्या अखेरीस अंमलात आणण्याचे निर्धारित केले जाते.

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.