Ministry of Statistics and Programme Implementation has revised base year of Gross Domestic Product from 2011-12 to 2022-23

India, March 16 -- The Government of India has issued a release:

Ministry of Statistics and Programme Implementation (MoSPI) has revised the base year of Gross Domestic Product (GDP) from 2011-12 to 2022-23 and the revised estimates have been released on 27th February, 2026. The revised GDP series (based on 2022-23) has been improved on account of incorporation of new data sources, use of latest classifications, methodological and conceptual improvements as per international recommendations.

The new Index of Industrial Production (IIP) series, with the base year revised to 2022-23, is designed to better capture the present structure of the economy. It incorporates a wider coverage of industries and products, along with updated weights der...