Centre to change base year for GDP from 2011-12 to 2022-23

     New Delhi, December 02, 2024: Centre has decided to update the base year for compilation of Gross Domestic Product (GDP) from 2011-12 to 2022-23.

Minister of State for Statistics, Programme Implementation and Planning Rao Inderjit Singh in a written reply in the Rajya Sabha today said Centre has decided to update the base year for compilation of Gross Domestic Product (GDP) from 2011-12 to 2022-23.

     An Advisory Committee on National Accounts Statistics (ACNAS) comprising of representatives from Central and State Government, Reserve Bank India, Academia and Researchers has been constituted for identification of new data sources and to advise on the methodology for compilation of National Accounts Statistics in the revised series, they said.

     Steps, such as constitution of ACNAS, standardisation of data structure to promote harmonised quality reporting across National Statistical System and use of administrative data are the steps taken by the Government to improve the statistical system.