India Updates Economic Measurement with New Base Year
The Ministry of Statistics and Programme Implementation (MoSPI) has officially announced the revision of the base year for National Accounts to 2022–23. This change aims to provide a more accurate representation of India’s current economic landscape, utilizing updated data sources while aligning with evolving international standards. Additionally, the revision will also extend to the Gross State Domestic Product (GSDP) across states and Union Territories (UTs), ensuring improved accuracy and comparability in the assessment of regional economic performance.
Workshop to Standardize State Income Reporting
To facilitate the understanding of these national changes among states and UTs, the National Accounts Division (NAD) of the National Statistics Office (NSO) is hosting a comprehensive three-day workshop from April 8 to 10, 2026. This event will take place in Visakhapatnam, Andhra Pradesh, with a focus on the new base year (2022-2023) and will target officials from the Directorates of Economics & Statistics across all states and UTs.
Expert Discussions on Methodological Changes
The workshop will provide an essential platform to discuss various methodological adjustments and other issues related to the compilation of GSDP. Participants will engage in detailed discussions concerning the institutional and industry sectors of the economy. Additionally, the event will feature the development of draft uniform guidelines for compiling District Domestic Product (DDP) by states and UTs, promoting standardized practices across the country.
Inaugural Session with Government Officials
The inaugural session of the workshop is set to commence on April 8, 2026, and will be graced by the presence of Dr. Saurabh Garg, Secretary of MoSPI, alongside Shri Peeyush Kumar, Principal Secretary of Planning for Andhra Pradesh. Approximately 150 officials from MoSPI and various State Directorates of Economics & Statistics will be in attendance, underscoring the significance of this workshop in enhancing the quality of economic data in India.
Through these initiatives, the MoSPI aims to foster transparency, uniformity, and comparability in Regional Accounts Statistics, ultimately strengthening the economic data framework across the nation.
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