Government to Launch New GDP and Inflation Series in February; IIP to Follow in May

India’s statistical system is set for a key update as the Ministry of Statistics and Programme Implementation prepares to release revised macroeconomic indicators using a new base year.  

The move aims to better reflect structural changes in the economy and improve the accuracy of headline data such as growth, inflation and industrial activity. 

Revised Data Timelines and Consultation Process 

According to an official statement, the new national accounts series with 2022–23 as the base year will be published on February 27, 2026. This will be followed by the release of the revised Index of Industrial Production (IIP) series, also rebased to 2022–23, on May 28.  

Retail inflation data under the updated Consumer Price Index (CPI) with a base year (2024=100) framework is also scheduled to be introduced as part of the February rollout. 

Ahead of these releases, the ministry will conduct a pre-release consultative workshop on December 23, following an earlier session held in Mumbai in November.  

Scope of changes and stakeholder participation 

The workshop will focus on revisions to GDP, CPI and IIP methodologies, including changes in data sources, sectoral weights and estimation techniques. Officials said the process is designed to improve statistical robustness and align macroeconomic indicators with current economic realities. 

Participants include economists, banking and financial sector experts, users of official statistics, subject specialists and senior officials from central and state governments. Policymakers expect the diverse representation to help smooth the transition to the revised data series. 

Read More: Government To Implement Double Deflation in New GDP Series to Address IMF Concerns! 

Conclusion 

The rebasing of GDP, inflation and industrial output indicators marks an important step in updating India’s macroeconomic measurement framework. Once implemented, the new series is expected to provide a more contemporary view of economic activity and support better-informed policy and investment decisions. 

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.