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

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.

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.

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.

New GDP Series 2022-23: 5 Key Changes Including MGT-7 Classification, Gold Savings Doubling, and Rooftop Solar

India's new GDP series (base year 2022-23) introduces five lesser-known but impactful changes. Key reforms include splitting enterprise GVA by activity using MGT-7 forms, valuing government housing, lowering asset useful lives, shifting household savings data source to SEBI (doubling gold savings estimates), and including rooftop solar electricity. These changes improve GDP accuracy but require careful understanding for exam questions on methodology.

Make in India 12-Year Review: PLI Schemes Show Concentration, Manufacturing Growth Patchy

Make in India completes 12 years with mixed results: manufacturing growth has been inconsistent, PLI schemes attracted ₹2.4 lakh crore but concentrated in top 5 sectors, employment impact limited to 8.5 lakh direct jobs. Key data for exams: non-petroleum exports grew 53% to $388.3B, capacity utilisation remains below 80%.

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.

Govt Proposes Gold Monetisation via Jewellers: 20,000 Tonne Idle Gold, Demat Deposits, Interest Income

The government is planning a new gold monetisation scheme where jewellers, not banks, will collect physical gold deposits from households, issue demat receipts, and pay interest. This aims to unlock over 20,000 tonnes of idle gold, improve India's trade balance, and reduce import dependence — a key reform for economic stability and current account management.