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Centre to change base year for GDP, IIP to 2017-18, for CPI it will be 2018

The Ministry of Statistics and Programme Implementation (MOSPI) has been allocated Rs 48.59 billion in the Union Budget 2018-19

Press Trust of India  |  New Delhi 

GDP, GDP data, GDP growth, Indian economy

The government will change the to 2017-18 for the calculation of and numbers while for the year will be revised to 2018, Union minister D V Sadananda Gowda said today.

"During 2018-19, the ministry is proposing to initiate steps to revise the base years of (GDP), (IIP) and (CPI) to accommodate and factor the changes that take place in the economic scenario of the country," the statistics and programme implementation minister said at a conference on budget provisions.

The statistics ministry has proposed the new for and as 2017-18 while for it will be 2018.

Gowda said the ministry will undertake various steps in the next fiscal beginning April that will improve the statistical system that will help meet the data requirements in the emerging socio-economic scenario.

The (MOSPI) has been allocated Rs 48.59 billion in the Union Budget 2018-19.

First Published: Fri, February 16 2018. 00:01 IST