Government to Release New Series of National Accounts For GDP 2026

The Government of India will roll out a new series of national accounts on February 27, 2026, with fiscal year 2022–23 as the new base year, according to the Ministry of Statistics and Programme Implementation (MoSPI). This update is part of a regular revision cycle aimed at improving the accuracy, relevance, and timeliness of national economic data, which serves as a key input for economic planning, policymaking, and research.

Why the Base Year Is Changing

National account statistics—used to compute Gross Domestic Product (GDP), Gross Value Added (GVA), and related indicators—are typically revised every few years to,

• Reflect structural shifts in the economy
• Incorporate new and updated data sources
• Adopt refined methodologies in line with international standards
• Adjust for changes in consumption patterns, production trends, and investment flows

The last major revision took place in 2015, when the base year was changed from 2004–05 to 2011–12. The upcoming revision will bring this up to date with post-pandemic economic realities and the rise of the digital and service economy.

Advisory Committee and Methodology

A high-level Advisory Committee on National Account Statistics (ACNAS) has been constituted, chaired by Prof. B.N. Goldar, to steer the base year revision.

Key objectives of the committee include,

• Recommending new data sources for enhanced accuracy
• Suggesting changes to the methodology of compilation
• Ensuring alignment with international statistical standards (like SNA 2008)
• Enhancing the analytical value of national accounts for policymakers and researchers

Discussion Papers to Aid Transparency

To explain the impending changes, MoSPI is releasing a series of discussion papers.

1st Discussion Paper

• Focuses on production and income-based estimates
• Explains changes in how GDP and GVA aggregates are compiled in nominal and real terms

Upcoming Discussion Paper

• Will focus on expenditure-based estimates
• Expected to cover revised treatment of consumption, investment, government spending, and net exports
• These papers aim to educate users, including economists, researchers, students, and policymakers, about the structure and implications of the new series.

Expected Benefits of the New Series

• More accurate GDP estimates due to updated datasets
• Better reflection of emerging sectors such as digital services and gig economy
• Improved measurement of informal and unorganised sectors
• Enhanced usefulness for policy formulation and economic forecasting

Relevant Static Data

• New base year for national accounts: 2022–23
• Release date: February 27, 2026
• Previous base year: 2011–12 (updated in 2015)
• Conducting Ministry: Ministry of Statistics and Programme Implementation (MoSPI)
• Advisory Committee Chairperson: Prof. B.N. Goldar