India will release revised Gross Domestic Product (GDP) data on February 27, shifting the base year from 2011–12 to 2022–23. The update aims to better reflect structural changes in the economy, including the rise of digital services, expansion of renewable energy, shifts in consumption patterns, and post-pandemic recovery trends.
As per official sources and government statements, India will release revised Gross Domestic Product (GDP) data on February 27, shifting the base year from 2011–12 to 2022–23. The move is aimed at better reflecting structural changes in the economy, including the rise of digital services, expansion of renewable energy, shifts in consumption patterns, and post-pandemic recovery trends.
According to sources, the revision introduces methodological improvements across sectors. Manufacturing and services output will be calculated using updated techniques to more accurately separate real growth from price effects. The informal and gig economy are also expected to be better captured through expanded use of surveys, GST data, and other high-frequency indicators.
Quarterly GDP estimates will also be refined using the Proportional Denton method, ensuring smoother alignment between quarterly and annual figures without artificial fluctuations.
In addition, food subsidies will now be treated as transfers in kind rather than product subsidies, and net GST collections will replace gross figures in calculations. The revision is part of a broader effort to modernize India’s economic statistics, following the recent update to the Consumer Price Index and ahead of a new Index of Industrial Production series scheduled for 2026.
The overhaul is designed to improve accuracy and present a clearer picture of India’s evolving economy. Apart from this, India delays U.S. trade talks after Supreme Court of USA rejects Trump tariffs, source says.