Mumbai, Jan. 16 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra, has welcomed National Statistical Office (NSO) under Ministry of Statistics and Programme Implementation's (MoSPI) base year revision of key economic indicators -- Consumer Price Index (CPI), Gross Domestic Product (GDP), and Index of Industrial Production (IIP), noting it will reflect changing consumption patterns, economic structures, and support better-calibrated monetary policy and growth.

The Ministry of Statistics and Program Implementation is revising the base year of key macroeconomic indicators.

Indicators such as CPI, GDP, and IIP play a vital role in policymaking in RBI, the central bank governor said in a video message posted on X by the MoSPI.

"This e...