IIP Grows 5.1% in May 2026, MoSPI Shifts from WPI to PPI Deflator Amid Data Concerns

MoSPI Considers Diary-Based HCES for High-Income Households to Tackle 9.8% Urban Non-Response Rate

To counter rising non-response from affluent households in gated societies, MoSPI is piloting a 'diary-based' self-reporting method for the next Household Consumption Expenditure Survey (HCES) in 2027-28. This shift is critical because the HCES data directly impacts CPI basket weights, inflation targeting by RBI, and policy making, but raises concerns about data comparability due to differential recall errors between survey methods.

India's IIP Grows 6.7% in July 2026, Capital Goods Surge 16.1%: MoSPI Data

India's industrial production (IIP) grew 6.7% in July 2026, maintaining a strong start to FY27 despite global headwinds. The surge in capital goods (16.1%) signals a revival in private investment, a key positive for the economy. This data is crucial for exam questions on economic growth, IIP, and sectoral performance.

FAST-DS: Govt's New Foreign Assets Disclosure Scheme Imposes Rs 1 Lakh Fee, Raises Disproportionate Penalty Concerns

The government's Foreign Assets of Small Taxpayers – Disclosure Scheme (FAST-DS), launched on August 16, 2026, requires a flat Rs 1 lakh fee for disclosing undisclosed foreign assets up to Rs 5 crore. This has sparked concerns among salaried employees with ESOPs or small US stock investments, who find the fee disproportionate to the asset value and argue it penalizes honest taxpayers. The scheme aims to regularize non-disclosure but clashes with the Black Money Act's provisions.

MoSPI Defends 7.8% GDP Growth Amid Criticism, Cites Base Year Change to 2022-23

MoSPI issued a six-point rebuttal defending the 7.8% GDP growth for Q1 FY26, clarifying that data revisions stem from the base year change (2011-12 to 2022-23) and updated indices (PPI, IIP). The ministry refuted claims of manipulation, emphasizing that comparing old and new series is invalid.

India's Q1 GDP Growth 7.8%: MoSPI Refutes Ex-Finance Secretary's Base Year Manipulation Claim

India's Q1 FY26 GDP grew 7.8% real and 10.3% nominal, but former Finance Secretary S C Garg alleged data manipulation due to base year change. The article clarifies that his calculation is methodologically flawed and explains the importance of base year revisions.

MoSPI Defends New GDP Series as Q1 Growth Hits 7.8%, Base Year Revised to 2022-23

MoSPI Secretary Saurabh Garg defends the new GDP series (base year 2022-23) amid criticism over downward revision of past GDP data. Q1 2026-27 growth at 7.8% surprised economists. Garg says the new series uses better data sources like GST, PLFS, ASUSE, and digital data (e-Vahan, PFMS), making it the best so far. The debate is 'unnecessary' as methods were already public months ago.

MoSPI Revises GDP Using PPI for Double Deflation; Base Year Shifted to 2022-23

MoSPI has revised past GDP growth data after changing the base year to 2022-23 and adopting double deflation using the Producer Price Index (PPI). This methodological shift has led to significant revisions in quarterly and annual GDP estimates, impacting how real growth is measured, especially when input and output prices move differently. For students, understanding these changes is crucial for both static GK (GDP calculation) and current affairs (base year revisions).

MoSPI: Better Informal Sector Data via ASUSE & PLFS Drives Downward Revision in Nominal GDP

India's new GDP series (base 2022-23) shows lower nominal GDP for past years, primarily because direct annual surveys (ASUSE, PLFS) now replace proxy-based estimates for the informal sector. This is a data quality improvement, not an economic slowdown — a critical distinction for exam questions on GDP measurement and methodology.