Under the revised GDP data series, what is the new base year adopted for calculating India’s GDP?

Solution

The new GDP data series introduced by the Ministry of Statistics and Programme Implementation (MoSPI) adopts 2022–23 as the base year for GDP calculations, replacing the earlier base year of 2011–12. Changing the base year helps ensure that GDP estimates better represent the current structure of the economy, including updated sectoral contributions and new datasets. The updated series incorporates improved methodologies and data sources to enhance the reliability and accuracy of national income estimates.