What & Where
GDP base year = benchmark year used to calculate constant-price GDP and growth rates
India shifting base year from 2011-12 to 2022-23; release slated 27 Feb 2026 by MoSPI
Revision aligns GDP, IIP (2022-23) and CPI (2023-24) datasets for national accounts
Quick Facts for MCQs
Timeline
- EighthRevision follows series starting 1948-49→1960-61, last in 2015
- 2017-18 plan scrapped due to PLFS, CES data issues, demonetisation, GST, Covid
- 2022-23 chosen as post-pandemic normal year capturing GST and PLI effects
Rationale
- StructuralShift includes digital services, gig work, renewables, drops obsolete industries
- DataAccuracy gained via MCA-21, updated NSSO, SNA-2008 alignment
- InflationNeutrality through updated price weights ensuring real-growth purity
Challenges
- CorporateBias MCA-21 under-captures small firms, inflates large profit share
- SingleDeflation may misstate manufacturing growth versus recommended double deflation
- BackSeries reconstruction tough, risks political and analytical disputes
Reform Suggestions
- HybridData merge MCA-21, ASI, NSSO, big-data from UPI, GST, EPFO
- DoubleDeflation adopt separate output-input deflators, especially for manufacturing, agriculture
- Transparency publish white paper, allow IMF-World Bank peer review, institutionalise 5-year updates
Key Data Points
| Feature | Data-Point |
|---|---|
| Present GDP base year | 2011-12 |
| New GDP base year | 2022-23 |
| Release date of revised series | 27 Feb 2026 |
| IIP new base year | 2022-23 |
| CPI new base year | 2023-24 |
| Advisory panel size | 26 members |
| Advisory chair | Biswanath Goldar |
| Last base change | 30 Jan 2015 (2004-05→2011-12) |
| Planned but dropped base | 2017-18 |
| Ideal revision gap | 5-10 years |
| Previous revisions count | Seven; upcoming is eighth |
| First national income committee | 1949, P C Mahalanobis |
| Services share in GDP | ≈ 55 % |
| Informal workforce share | 93 % (Eco Survey 2018-19) |
Related UPSC Prelims PYQs
The new Gross Domestic Product (GDP) series released by the Central Statistical Organisation (CSO) in February 1999 is with reference to base price of
हाल के वर्षों में, निम्नलिखित में से कौन-सा, भारतीय अर्थव्यवस्था में, अवरोही क्रम में, माँग का स्रोत रहा है?






