For GDP, a new series should be released on February 27, 2026 with FY 2022 23 as a basic year

The focus made by the government on data -based decision -making, obtaining a timely time statistics has become crucial and the Ministry of Statistics and the Implementation of the Program (Mospi) works on several surveys. In an interview with Business Today, Sarabh Garg, secretary, Mospi, said that the new GDP series will be released on February 27, 2026, with the 2022-23 exercise as a basic year. He also talks about updating the CPI and IIP indices. Edited extracts:
BT: The statistical system of India was considered quite static with frequent delays. But in recent years, Mospi has published several surveys and has worked on several other surveys as well as on the update of clues. How was this change caused? What are the other changes planned to keep the statistical system of India up to date?
Saurabh Garg: As the government gives great importance to data -based decision -making, the role of Mospi becomes very crucial. An important aspect that has helped to provide survey data is faster is that the National Statistics Office (NSO) collects data in national samples (NSS) by tablets via a personal assisted or capital interview. There is no more data collection on pen and paper mode in NSO surveys. With this in -depth use of technology, the annual survey reports are published within 90 days and quarterly survey reports within 45 days of the end of the surveys.
Efforts are also underway to allow the generation of investigation estimates at the district level, to replace the current practice of providing estimates at state level.

To support this, the design of the sample of Mospi surveys has been revised to include provisions to generate estimates at the district level by the States and the territories of the Union. The frequency of surveys is improved, as the PLFS results are now published monthly at India for rural and urban areas. Efforts are also underway to publish asusely quarterly results.

To meet the needs of emerging and diverse data of a wide range of stakeholders, the ministry will also launch new surveys, in particular the annual survey of companies in the service sector (ASSSE), which will offer valuable information on the economy incorporated service sector and plans to start in January 2026. In addition, a group of technical experts (TEG) was created to guide the ministry in the implementation of the distribution of revenues India, temporarily planned for 2026.
BT: Could you share some details on the update of the basic year of GDP, including what year will be used as a basic year, and by then the end of the exercise?
For GDP, a new series should be released on February 27, 2026 with the year 2022-23 as a basic year. To calculate GDP with a revised base, in addition to the use of data from the Office of Controller General of Accounts (CGA), MCA-21 and the Reserve Bank of India, the ministry explored improved use of GST data and supporting new data sources such as the E-VAhan portal, UPI transaction data, etc.

BT: The ministry also works to update the consumer price index (ICC) in terms of the basic year as well as the basket. Of the two surveys of household consumption expenses carried out, which is used by Mospi for the financial year, and what is the basic year for the new CPI index?

For the IPC, 2024 was identified as the revised basic year, because the basket of articles and the weight of the items would be decided on the basis of the survey on consumption expenses (HCS) of the NSO (HCS) in 2023-24. The new CPI series should be published in the first quarter of 2026.
BT: One of the concerns about the Industrial Production Index (IIP) was volatility of data and revision changes. How can this be taken care of in the current revision IIip exercise?
For the IIP, 2022 -23 was temporarily identified as the revised base. IIP on the revised base would be released from 2026-2010. In the case of IIPs, the NSO regularly sensitizes source agencies to engage with the production units concerning the timely submission of the data. Most source agencies move to online data collection platforms for factory units, and the extent and extent of revisions in IIP estimates will be expected to reduce in the near future.
BT: Will the ministry are considering a more frequent update of data indices, since these revisions have been waiting for several years?
Mospi explores the experimental compilation of a channel based on a chain to improve responsiveness to structural changes. The basket of articles and the factory framework of the new IIP series would be selected using the latest data in the annual industry (ASI) 2022-23 industries. HCS serves as the basis for updating the CPI base. It has now been decided to lead HCE about every 3 years. Consequently, the basic revision of the IPC will be carried out.

Regarding GDP, annual data concerning public spending and the private business sector is available. However, for the large informal sector in India, estimates depend on various survey results. Attempts are made to increase the frequency of surveys. With the availability of more datasets, a basic GDP revision could be made more frequently.