After a thorough revision process, the administration has informed Parliament that new base-year series for important macroeconomic indicators would be released on February 12, GDP on February 27, and IIP on May 28.
Methodological changes, new data sources, and revised weightages have been incorporated by the Ministry of Statistics and Programme Implementation (MoSPI) to increase accuracy and global comparability. The base years for GDP and IIP have been updated to 2022–23, while CPI has been set for 2024.
In order to provide a more solid statistical foundation for policy making, the revision is being led by knowledgeable technical advisory committees and is in conformity with the International Monetary Fund’s Special Data Dissemination Standards (SDDS). The goal is to improve data quality, timeliness, and transparency.
