Question

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

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

The new GDP data series introduced by the Ministry of Statistics and Programme Implementation MoSPI adopts 202223 as the base year for GDP calculations, replacing the earlier base year of 201112. 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.