What Changes Are Expected in the New GDP Series Launching on February 27?
Synopsis
The Indian government has released a vital discussion paper as part of its preparations for the new GDP series. This paper addresses significant methodological changes and invites expert feedback, paving the way for more accurate national accounts data. Discover how these updates could impact economic analysis and policy formulation.
Key Takeaways
New GDP series launches with FY 2022-23 as the base year.
Discussion paper details methodological changes in GDP series.
Feedback invited from experts and stakeholders.
Committee chaired by Professor B.N.
Goldar to guide improvements.
Estimates to be released on February 27, 2026 .
New Delhi, Jan 23 (NationPress) In anticipation of the rollout of the new GDP series with FY 2022-23 serving as the base year, the government has unveiled a third discussion paper focused on the alterations in the methodology pertaining to the quarterly GDP series and Sub-national Accounts.
The Ministry of Statistics & Programme Implementation has published the discussion paper, aptly titled “Changes in Methodology of Quarterly GDP series and Sub-national Accounts.”
This ministry is actively seeking insights and feedback from a diverse range of stakeholders, including experts, academics, government entities, state administrations, financial institutions, and users of national accounts data, with a deadline set for February 5.
MoSPI is preparing to revise the base year of national accounts starting February 27.
An Advisory Committee on National Account Statistics (ACNAS), chaired by Professor B.N. Goldar, has been established to guide MoSPI on integrating new data sources to enhance the accuracy of National Accounts estimates and to refine the methodology for compiling and presenting National Accounts Statistics, which will be crucial for economic analysis and policy development.
The committee includes representatives from various Central Ministries and Departments, State Governments, Academia, and Research Institutions.
As per the ministry, FY 2022-23 has been designated as the base year for the new series, with the estimates of this series scheduled for release on February 27, 2026.
“To inform users of national accounts data about the proposed changes in the new series, the ministry has planned to issue discussion papers concerning the compilation of National Accounts Statistics,” it noted.
The first discussion paper, addressing modifications in the compilation of aggregates based on the production/income approach, was released on November 21, 2025, and the second paper, focusing on improvements in the GDP compilation from the expenditure approach, was released on December 16, 2025, aimed at soliciting feedback from users.
Point of View
The release of this discussion paper is a significant step towards enhancing the accuracy and reliability of India's national accounts data. With the engagement of diverse stakeholders, the government demonstrates a commitment to transparency and collaboration, essential for informed policy-making.
NationPress
1 May 2026
Frequently Asked Questions
What is the purpose of the discussion paper?
The discussion paper aims to address changes in the methodology of the quarterly GDP series and Sub-national Accounts, inviting feedback from various stakeholders.
What is the significance of the new base year?
FY 2022-23 has been chosen as the base year to provide a more accurate framework for the national accounts data, which is crucial for economic analysis and policy formulation.
When will the estimates of the new GDP series be released?
The estimates of the new GDP series are scheduled to be released on February 27, 2026.
Who is involved in the Advisory Committee on National Account Statistics?
The committee includes representatives from Central Ministries, State Governments, Academia, and Research Institutions, chaired by Professor B.N. Goldar.
Why is stakeholder feedback important?
Stakeholder feedback is essential for ensuring that the new methodology reflects diverse perspectives and can lead to more accurate and reliable national accounts data.
