New GDP series draws on GST, corporate and labour data
India's Ministry of Statistics (MoSPI) released a detailed 'Sources and Methods for Compilation of National Accounts Statistics' report explaining the revamped GDP series introduced in February. The new series shifts the base year to 2022-23 from 2011-12 and relies more on GST records, corporate and LLP filings and labour surveys to better measure the non-financial private corporate and unincorporated sectors.
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The GDP base-year revision and its new data sources are a standing UPSC economy topic.
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- Report titled 'Sources and Methods for Compilation of National Accounts Statistics', released by MoSPI.
- New base year 2022-23, replacing 2011-12; series introduced in February 2026.
- Greater use of GST records, corporate/LLP filings and labour surveys (ASUSE, PLFS).
- Revision policy follows SNA 2008 and the IMF's Quarterly National Accounts Manual.
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