India to Use 2022–23 as New Base Year, Add Fresh Data Sets for GDP Estimation

New Delhi— India is set to undertake a major upgrade in its economic statistical framework, with the government announcing that **2022–23 will become the new base year** for calculating Gross Domestic Product (GDP). The updated GDP series is scheduled for release on **February 27, 2026**, according to an official statement.

The revised series will incorporate several **new data sets** that were not available during the last comprehensive revision more than a decade ago. These include:

* A refined list of active companies
* Detailed filings from Limited Liability Partnerships (LLPs)
* Expanded disclosures from corporate annual returns
* Data from the Annual Survey of Unincorporated Enterprises (ASUSE)

These additions aim to improve national accounts, particularly in sectors where information gaps have persisted — such as private corporates and MSME-dominated activities.

To guide the overhaul, the government has set up an **Advisory Committee on National Account Statistics (ACNAS)**. The committee will advise the Ministry of Statistics and Programme Implementation (MoSPI) on incorporating new data sources and enhancing methodologies used for compiling and presenting national accounts for policy-making and economic analysis.

One key improvement is the ability to measure companies’ turnover by specific business activities. This will allow multi-activity firms to have their output allocated accurately across different operational segments, instead of being assigned to a single dominant business line.

Additionally, LLP filings and the wide usage of ASUSE and labour force surveys are expected to significantly improve estimates of services and other hard-to-capture activities outside the formal corporate sector.

MoSPI has published a **discussion paper on national accounts** on its website to explain the changes proposed in the new series. A second paper — covering methodological updates for calculating aggregates using the expenditure approach — will be released soon.

The ministry has invited feedback from experts, academicians, government bodies, and other stakeholders on the discussion paper. Submissions can be made until **December 10, 2025**.

—With inputs from IANS