Govt mulls change in base year to 2022-23 from 2011-12 for GDP computation

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Govt mulls change in base year to 2022-23 from 2011-12 for GDP computation - Business Standard

Quick Summary:

Addressing an event here, Ministry of Statistics and Programme Implementation (MoSPI) Secretary Saurabh Garg further said the ministry will come up with monthly estimates of Periodic Labour Force Survey (PLFS) from January next year."...next base year (GDP) will be 2022-23...will be implemented from February 2026," Garg said.

The government is considering changing the base year for computation of the GDP to 2022-23 in February 2026 to reflect an accurate picture of the economy, a top government official said.

The 26-member Advisory Committee on National Accounts Statistics (ACNAS), which was constituted under the Chairmanship of Biswanath Goldar, is expected to complete the exercise by early 2026.