India is getting ready for one of its biggest statistical updates in years. The government plans to revise its GDP estimation framework in preparation for a comprehensive update set for February 2026.
On Nov 21, the Ministry of Statistics and Programme Implementation (MoSPI) published a discussion paper outlining the new methodology.
India ready to overhaul GDP methodology
The updated GDP series will use 2022–23 as the new base year. It will consider various datasets that were unavailable during the last major revision over a decade ago.
These datasets include a more refined list of active companies, detailed filings from Limited Liability Partnerships (LLPs), additional disclosures from corporate annual returns, and the annual survey of unincorporated enterprises.
New Base Year and Expanded Data Sources to Improve Accuracy
One significant improvement is the ability to measure the turnover share of companies based on specific business activities. This change will help statisticians accurately distribute output across all operational segments of multi-activity firms. Instead of attributing their entire production to a single dominant line of business, they can now assign production more accurately.
Adding LLP data will also help fill long-standing gaps in services and professional activities. Construction, one of the fastest-growing parts of GDP, will experience a major recalibration. The ministry plans to use a modified commodity-flow approach based on insights from a new pilot construction survey. This method will help capture variations in material use, differences between pucca and kutcha structures, and the increasing importance of non-traditional building inputs.
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