Story perspectives

India Updates GDP Base Year for Enhanced Accuracy

3/1/2026

Summary

Story summary

India adopts 2022-23 as the base year for GDP, replacing 2011-12, to improve accuracy and reflect structural changes.
The update uses broader data sources, including GST data and vehicle registrations.
The estimation method features double deflation for manufacturing and agriculture.
The Supply Use Table framework aligns production- and expenditure-based GDP estimates and clarifies activity, especially in households and informal sectors, without altering the real size of the economy.

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Story summary

India adopts 2022-23 as the base year for GDP, replacing 2011-12, to improve accuracy and reflect structural changes.
The update uses broader data sources, including GST data and vehicle registrations.
The estimation method features double deflation for manufacturing and agriculture.
The Supply Use Table framework aligns production- and expenditure-based GDP estimates and clarifies activity, especially in households and informal sectors, without altering the real size of the economy.