India To Revise GDP, CPI, And IIP Base Years; New Data Series to Roll Out in Early 2026

India’s upcoming revisions to the base years of its key economic indicators, Gross Domestic Product (GDP), Consumer Price Index (CPI), and Index of Industrial Production (IIP), will significantly broaden the scope and depth of data coverage. The new methodology will incorporate advanced digital data sources, offering a more accurate reflection of the evolving economy, said Saurabh Garg, Secretary of the Ministry of Statistics and Programme Implementation (MoSPI), in an interaction with CNBC-TV18.

Revised GDP Series to Capture Digital Economy

Garg said the revised national accounts and GDP series will be based on new and alternative data sources, including GST filings, e-VAHAN registration data, and digital payments platforms. The aim is to represent a larger segment of India’s rapidly expanding digital economy.

“The new series will capture a much larger part of the digital economy. GDP coverage will increase as we incorporate more real-time and electronic data,” Garg stated. The inclusion of such granular datasets is expected to enhance precision in estimating sectoral output, consumption, and investment, particularly in the services and technology-driven sectors.

The revised GDP series will use 2022–23 as the base year and is scheduled for release by the end of February 2026. The Second Advance Estimates of FY26 GDP will be prepared using this new base.

CPI To Expand Basket to Over 350 Items

The Consumer Price Index (CPI) will see its most comprehensive revision in years, with the number of items in the inflation basket increasing from 299 to more than 350. For the first time, e-commerce data will be included to reflect changing household consumption patterns.

“A lot of digital products will move into the CPI basket, capturing products and sources of data, like where households are purchasing. The revision will increase the number of markets, products, and types of data sources,” Garg explained.

The CPI’s food category weight is likely to fall, reflecting reduced spending on cereals and rising demand for vegetables, fruits, and processed foods, as shown in the latest Household Consumption Expenditure Survey (HCES). The new CPI series, with 2024 as the base year, will be released on February 12, 2026.

IIP to Add More Sectors for Wider Coverage

The Index of Industrial Production (IIP) is also undergoing expansion, with more industries expected to be added to better capture modern manufacturing and industrial output. The updated IIP series, based on April 2026 data, will be released in May 2026.

The revision aims to align industrial statistics with the current structure of India’s economy, particularly accounting for newer industries and production activities that were underrepresented in earlier series.

Timeline And Stakeholder Consultations

MoSPI plans to maintain the existing release schedules for both CPI and IIP, ensuring no delay in publication timelines. Garg said all three base year revisions are “on track” and reaffirmed that the new series will reflect India’s changing economic dynamics by early 2026.

Stakeholder consultations on the new methodologies are expected to begin by the end of October or early November 2025, with initial meetings scheduled in Delhi and Mumbai.

Read More: MoSPI Proposes Inclusion of Free PDS items to CPI

Conclusion

The upcoming base year revisions for GDP, CPI, and IIP mark a significant modernisation of India’s statistical architecture. By leveraging digital datasets such as GST and payments data, the government aims to present a more comprehensive and real-time picture of the economy.

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