India adopts FY 2022–23 as base year for GDP with new datasets

India will adopt FY 2022–23 as the new base year for GDP estimates, incorporating new datasets from corporate filings, LLPs, and unincorporated enterprises. The revised methodology aims to improve coverage of private companies, MSMEs, and service sector activities

New Delhi: India is set to undergo a significant economic statistical overhaul as the government announced updation of its GDP estimation framework, adopting 2022–23 as the new base year, an official statement has said.

FY 2022-23 has been chosen as the base year of the new series, and the estimates of the new series are scheduled to be released on February 27, 2026, the statement said.

The revised series will draw on new datasets unavailable during the last overhaul over a decade ago. These new data sets include a refined fr