Government Releases Uniform Guidelines for States to Measure GDP Using Revised 2022-23 Base Year

As per The PTI report, the Ministry of Statistics and Programme Implementation (MoSPI) has issued a uniform guideline for compiling Gross State Domestic Product (GSDP) estimates with 2022-23 as the new base year. The revised framework follows the recent update in the national accounts series. 

According to the ministry, the change is for improving the accuracy and comparability of economic estimates prepared by States and Union Territories. 

Shift From Existing 2011-12 Series 

Most States and UTs currently prepare GSDP estimates using 2011-12 as the base year. MoSPI said 34 States and UTs are part of the present series, while Lakshadweep and Dadra & Nagar Haveli and Daman & Diu are yet to be fully covered. 

The ministry said efforts are underway to include all States and UTs under the revised framework to ensure uniform regional accounts statistics across the country. 

Updated Data Sources and Methods 

The revised guideline includes wider use of administrative records, sector-specific databases, and survey-based inputs for the compilation of Gross State Value Added (GSVA). GSDP estimates are prepared by adding net taxes on products to GSVA. 

MoSPI said estimation methods have also been revised to better capture changes in economic activity, particularly in services and unincorporated sectors. The framework is intended to maintain consistency between state-level and national economic estimates. 

Committee Reviewed Framework 

The revision process was examined by a Sub-Committee on Regional Accounts formed under the Advisory Committee on National Accounts Statistics (ACNAS). The committee was chaired by former IIM Ahmedabad professor Ravindra H. Dholakia. 

The panel included representatives from State governments, RBI, NITI Aayog, research institutions, and academia. It reviewed methodologies, concepts, and emerging data sources linked to State Domestic Product and District Domestic Product estimates. 

Use of GSDP Estimates 

GSDP figures are used by the Ministry of Finance, Finance Commission and Comptroller and Auditor General for fiscal planning, budgeting, and inter-state comparisons. 

The Department of Expenditure uses GSDP data to determine states’ borrowing limits under the fiscal responsibility framework. The Finance Commission also relies on per capita GSDP indicators while recommending the distribution of central taxes among States. 

The draft guideline was placed on the ministry’s website on 7 April 2026, with comments invited till 27 April before the final version was issued. 

Read More: India Plans to Build Strategic LNG Storage Capacity as Middle East Conflict Disrupts Qatari Supply! 

Conclusion 

The revised guideline will be used by States and Union Territories for compiling GSDP estimates with 2022-23 as the new base year. 

Track the stock market in Hindi. Visit Angel One News for the latest market trends, insights, and share market news in Hindi. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.