New Delhi, 22 December (H.S.): The central government announced a base year revision on Monday for critical macroeconomic indicators, scheduling new series for retail inflation and Gross Domestic Product (GDP) data from February next year, alongside Industrial Production Index (IIP) figures from May.
The Ministry of Statistics and Programme Implementation revealed that updated retail inflation rate, national accounts, and IIP data—with revised base years—will launch in 2026, shared with stakeholders.
A consultation workshop convenes December 23 at Bharat Mandapam in New Delhi, following Mumbai's inaugural session on November 26, engaging eminent economists, financial institutions, banking experts, data users, and senior central-state officials; NITI Aayog Vice Chairman Suman K. Bery serves as chief guest, joined by Chief Economic Adviser V. Anantha Nageswaran, Secretary Saurabh Garg, and Director General of Central Statistics N.K. Santosh.
Base Years Shift to 2024 for CPI, 2022-23 for GDP and IIPRetail inflation's new Consumer Price Index (CPI) series adopts 2024 as base year, releasing February 12; national accounts data pegs FY 2022-23 as base, issuing February 27; IIP updates to 2022-23 base on May 28.
The workshop aims to disseminate proposed methodological and structural changes under base revisions for GDP, CPI, and IIP, soliciting participant feedback to aid user comprehension of modifications.
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Hindusthan Samachar / Jun Sarkar
