Covid-19 fallout: Outdated CPI, GDP may have to wait longer for revision

Revision of CPI and GDP base years from 2011-12 and 2012, respectively, was dependent on the outcomes of the consumer expenditure survey of 2017-18, which the govt junked sometime back

The second and the deadlier Covid-19 wave has derailed the government's plans to carry out the consumer expenditure survey in 2021-22 as well. This is further delaying the base revision exercise for the country's key macro-economic indicators, raising data quality concerns.
 
Revision of consumer price index (CPI) and gross domestic product (GDP) base years from 2011-12 and 2012, respectively, were dependent on the outcomes of the consumer expenditure survey of 2017-18, that the government decided to junk sometime back.
 
Economists have raised an alarm over the ‘severely outdated’ CPI and GDP data. Unlike data collection for CPI or