According to changes introduced in the new National Accounts series, the base year for India’s GDP calculations will be updated to which year?

The Ministry of Statistics and Programme Implementation (MoSPI) will update the base year for India’s GDP and GVA calculations from 2011–12 to 2022–23. Updating the base year ensures that GDP estimates better reflect the current structure of the economy, including changes in industry composition, consumption patterns, and technological advancements. Base year revisions are periodically conducted to improve the accuracy of economic measurement and to provide more reliable comparisons of economic performance across different time periods.