The federal government is contemplating altering the bottom yr for computation of the GDP to 2022-23 in February 2026 to mirror an correct image of the financial system, a prime authorities official mentioned.
This would be the first revision in over a decade. It was final performed in 2011-12.
Addressing an occasion right here, Ministry of Statistics and Programme Implementation (MoSPI) Secretary Saurabh Garg additional mentioned the ministry will provide you with month-to-month estimates of Periodic Labour Drive Survey (PLFS) from January subsequent yr.
“…subsequent base yr (GDP) shall be 2022-23…shall be carried out from February 2026,” Garg mentioned.
The 26-member Advisory Committee on Nationwide Accounts Statistics (ACNAS), which was constituted underneath the Chairmanship of Biswanath Goldar, is anticipated to finish the train by early 2026.
Usually updating the bottom yr is important to make sure that indices precisely mirror adjustments within the financial system’s construction, comparable to shift in consumption sample, sector weight and the incorporation of recent sectors.
Garg mentioned that MoSPI is in means of beginning process of financial census.
He additionally pitched for selling knowledge pushed determination making.
Garg additionally favoured higher knowledge governance by the use of uniform pointers.
He lamented that among the prosperous neighbourhood are refusing to speak to ministry’s surveyors.
