MoSPI releases methodology paper, seeks stakeholder feedback
The Ministry of Statistics and Programme Implementation (MoSPI) has released the first discussion paper on India’s upcoming GDP base-year revision, ahead of the launch of the new national accounts series scheduled for 27 February 2026. The new series will shift the GDP base year to 2022–23, reflecting changes in production patterns, consumption behaviour and the broader structure of the economy over the past decade.
What is happening?
MoSPI is updating India’s national accounts – a periodic exercise undertaken to ensure that GDP calculations reflect current economic realities. The revision is being guided by the Advisory Committee on National Account Statistics (ACNAS), chaired by economist B.N. Goldar, and includes members from central ministries, state governments, academic institutions and research bodies.
What does the new discussion paper cover?
The current paper focuses on updates to:
- Production approach
- Income approach
The proposed changes include:
- Use of new and updated datasets
- Improved measurement of sectoral output and income
- Methodological refinements to capture structural shifts in India’s economy
- Better estimation techniques for nominal and real GDP aggregates
A second discussion paper will follow, outlining proposed revisions under the expenditure approach.
Why this matters
Base-year revisions are critical for:
- Improving the accuracy of GDP data
- Reflecting new industries, digitalisation and supply-chain shifts
- Enhancing policy formulation and economic analysis
- Ensuring better comparability with international statistical standards
Stakeholder engagement
MoSPI has invited economists, researchers, financial institutions, state governments and other users of national accounts to provide comments and technical feedback on the proposals.