Release Dates Announced for India’s New GDP, CPI, and IIP Series

The Ministry of Statistics and Programme Implementation (MoSPI) has announced a comprehensive revision of the base year for Gross Domestic Product (GDP), Consumer Price Index (CPI), and Index of Industrial Production (IIP). The new base year for GDP and IIP will be 2022-23, while for CPI it will be 2024. The updated series is scheduled for release on 12 February 2026 (CPI), 27 February 2026 (GDP), and May 2026 (IIP). The move aims to improve accuracy, relevance, and international comparability of India’s official statistics.

What Is Base Year Revision and Why Is It Important?

A base year is the reference year against which economic indicators are measured. Over time, economic structures change due to technological progress, new industries, and shifting consumption patterns. Therefore, periodic base year revision ensures,

• Updated weightage of sectors
• Inclusion of new data sources
• Improved methodology
• Better global comparability

The new GDP base year revision 2026 reflects structural changes in India’s economy since the last update.

New Base Years Announced

MoSPI has proposed,

• GDP – Base Year 2022-23
• IIP – Base Year 2022-23
• CPI – Base Year 2024

The release schedule is as follows,

• CPI New Series – 12 February 2026
• GDP New Series – 27 February 2026
• IIP New Series – May 2026

This phased rollout ensures a smooth transition to the updated statistical framework.

Methodological Improvements and Data Sources

The base year revision exercise is guided by Technical Advisory Committees and Expert Groups comprising experts from academia, RBI, and central and state governments.

MoSPI has incorporated data from major surveys such as,

• Periodic Labour Force Survey (PLFS)
• Household Consumption Expenditure Survey (HCES)
• Annual Survey of Unincorporated Sector Enterprises (ASUSE)

Additionally, improvements include,

• Increased sample size
• Modified sampling design
• Updated survey instruments
• Revised sectoral weights

These steps strengthen the reliability of the India GDP new series and other indices.

Steps Taken to Improve Accuracy and Transparency

MoSPI has adopted multiple reforms to enhance transparency in official statistics,

• Use of digital platforms with built-in validation mechanisms.
• Publication of Advance Release Calendar (ARC) on the official website.
• Launch of the e-Sankhyiki portal for easier data dissemination.
• Availability of unit-level survey data for researchers and policymakers.
• Circulation of the National Meta Data Structure (NMDS) to clarify data sources and methodology.

These measures aim to reduce data release lag and increase public confidence.

Role of the Government and Parliament

• The announcement was made by Rao Inderjit Singh in a written reply in the Lok Sabha.
• The revision aligns with global best practices and reflects India’s commitment to maintaining internationally credible statistical systems.
• The exercise is conducted under the supervision of the Ministry of Statistics and Programme Implementation, which is responsible for compiling and releasing national statistical data.

Question

Q. The new proposed base year for India’s GDP and IIP is,

A. 2020-21
B. 2021-22
C. 2022-23
D. 2023-24