MoSPI Revises GDP Base Year to 2022-23, Projects FY 2025-26 Real Growth at 7.6%

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 MoSPI Launches Experimental Monetary Asset Accounts of Marine Fish Resources for Blue Economy

India's MoSPI has initiated a groundbreaking experiment to assign monetary value to marine fish stocks under the UN SEEA framework. This natural-capital accounting aims to integrate blue economy into national accounts, providing data for sustainable fisheries management and climate-risk assessment. For UPSC aspirants, this links to Environment, Economy, and Government policies on blue economy.

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 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: 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.

NITI Aayog Proposes Licensing Reforms in Law, Healthcare, Engineering; Services 55% of GDP

NITI Aayog has proposed wide-ranging regulatory reforms for professional services — law, accounting, architecture, engineering, and healthcare — covering licensing, business structures, interstate mobility, and mutual recognition with other countries. The report notes services form 55% of GDP and India is the seventh-largest services exporter with 4.3% global share. For aspirants, this is a high-yield governance/economy topic for Prelims data and Mains on services-led growth.