How MoSPI is tackling methodological concerns via GDP base year revision

MoSPI's move to revise the GDP base year aims to improve accuracy, address past controversies, and align with updated economic realities, while consulting experts on new datasets and methodologies

On September 24, the Ministry of Statistics and Programme Implementation (Mospi) hosted a conference in Mumbai, bringing together over 50 economists and forecasters from various organisations to discuss the revision of the base year for India’s Gross Domestic Product (GDP).

This event underscores the importance Mospi places on wider consultation, especially given the criticism and debates surrounding previous base year revisions. The involvement of such a large number of experts highlights the ministry’s intent to ensure transparency and address the concerns raised during earlier base year changes.

GDP is a broad measure of a country’s economic size and is