1.GDP Base Year 2022-23 (GDP Revision)
What & Where
GDP base‐year revision; constant-price series now anchored to FY23 enabling inflation-free output tracking
Executed by MoSPI/NSO for entire Indian economy, aligning with 2008 System of National Accounts
Core processes: granular sector-specific deflators, double deflation, Supply-Use Tables reconciliation
Quick Facts for MCQs
Inflation Adjustment
- Granular deflators use specific CPI/WPI items, discarding broad composite indices
- Double deflation deflates outputs and inputs separately, isolating real value added
- Unit-value indices applied to commodity groups with high price volatility
Informal & Gig Sector
- ASUSE and PLFS replace outdated proxies, refreshing unincorporated sector estimates
- New occupational codes capture platform workers such as delivery agents, aggregator drivers
- Enhanced coverage expected to lift services and labour-intensive sector weightage
Data Integration & Consistency
- GST filings cross-verify corporate turnover and state-wise activity allocation
- SUT framework reconciles production and expenditure GDP, cutting statistical discrepancy
- Proportional Denton method smooths quarterly series, removing artificial step jumps
Key Data Points
| Feature | Data-Point |
|---|---|
| Implementing ministry | MoSPI / National Statistical Office |
| New base year | 2022-23 (FY23) |
| Previous base year | 2011-12 |
| Price indicators count | ~600 (earlier ~180) |
| Deflation approach | Double deflation for manufacturing & agriculture |
| Household data sources | ASUSE + PLFS annual estimates |
| Big-data inputs | GST, e-Vahan, PFMS |
| Consumption classification | COICOP 2018 compliant |
| Quarterly smoothing | Proportional Denton method |
| Reconciliation tool | Supply & Use Tables (SUT) |
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
The new series of Wholesale Price Index (WPI) released by the Government of India is with reference to the base prices of






