New Data Series Announcement with Changed Base Year for Economic Indicators

The Ministry of Statistics and Programme Implementation plans to release a new series of economic data with an updated base year for inflation, national accounts, and industrial production. A consultative workshop will precede these updates to discuss methodological changes with experts, economists, and government officials.

The Ministry of Statistics and Programme Implementation has announced a significant update to the base year for key macroeconomic data, including retail inflation, national accounts, and industrial production. Set to be rolled out next year, a comprehensive series of new statistics will redefine economic measurement...

To facilitate understanding and gather insights into these updates, the ministry will host a pre-release consultative workshop. Scheduled for Tuesday, this event will highlight the methodological and structural changes involved in revising the Gross Domestic Product (GDP), Consumer Price Index (CPI), and Index of Industrial Production (IIP). The official agenda targets thorough discussions with economic experts and key governmental figures...

The workshop offers a platform for dialogue and feedback, aiming to incorporate a wide range of perspectives from economists, financial sector veterans, and government authorities. Eminent personalities, including Suman K Bery from NITI Aayog, V Anantha Nageswaran, and senior officials from MOSPI, will contribute their insights as the nation transitions to this updated statistical framework...

(With inputs from agencies.)