The Ministry of Statistics and Programme Implementation (MoSPI) organised the Second Pre-release Consultative Workshop on the Base Revision of the Gross Domestic Product (GDP), Consumer Price Index (CPI) and Index of Industrial Production (IIP) on 23^rd December, 2025 at Bharat Mandapam, Pragati Maidan, New Delhi. The First Pre-release Consultative Workshop was held on 26^th November, 2026 at Mumbai.

The primary objective of the workshop was to strengthen transparency, foster informed dialogue and ensure broad-based consultation before the release of the revised series of GDP, CPI, and IIP by way of sharing proposed methodological and structural improvements with the participants. New series of National Accounts and IIP with FY 2022-23 as base year are scheduled to be released on 27^th February, 2026 and 28^th May, 2026 respectively, whereas the new series of CPI with base year 2024 is scheduled to be released 12^th February, 2026.

Inaugural session of the Workshop was graced by the distinguished dignitaries, including Shri Suman K. Bery, Vice Chairman, NITI Aayog as the Chief Guest, Dr. Saurabh Garg, Secretary, MoSPI, Dr. V. Anantha Nageswaran, Chief Economic Advisor and Shri N. K. Santoshi, Director General (Central Statistics), MoSPI. The workshop brought together a wide spectrum of participants, including eminent economists, experts from financial institutions and the banking sector, subject-matter specialists, users of core statistics, and senior officials from the Central and State Governments.

In his inaugural address, Shri Suman K. Bery, Vice Chairman, NITI Aayog and the Chief Guest of the event emphasized the importance of engaging with various data users and stakeholders to address the issues regarding reliability and credibility of statistics produced by MoSPI and added that the pre-release consultative workshop is a welcome step in that direction. As the country is transitioning towards upper middle-income country in short to medium term, he opined the need of accurate data for tracking this progress.

Dr. Saurabh Garg, Secretary, MoSPI, in his address, highlighted the importance of data-driven decision making for realizing the goal of ‘Viksit Bharat 2047’. Delineating the salient features of the revised series, he highlighted the use of Annual Survey of Unincorporated Sector Enterprises for measuring the informal sector; use of Double Deflation and Volume or Single Extrapolation in place Single Deflation; use of new data sources like Goods and Services Tax (GST) and Public Finance Management System (PFMS) which are available at a relatively shorter time lag; integration of Supply and Use Table (SUT) framework with National Accounts Framework to address the issue of statistical discrepancy; real time data collection and enhanced coverage of rural and urban markets for CPI; and, compilation of IIP at more granular level.

Dr. V. Anantha Nageswaran, Chief Economic Advisor, in his address, commended the effort of MoSPI to organize the workshop to afford an opportunity to researchers, experts and various data users to understand the improvements being introduced in new series of GDP, CPI and IIP. He opined that measuring informal sector is relatively more challenging. However, a methodology which is transparent, enables generation of consistent estimates over a period of time and helps capture real picture of economy can be considered as a reasonably sound methodology.

In the welcome address, Shri N. K. Santoshi, Director General (Central Statistics), MoSPI expressed gratitude to the Chief Guest and other participants for gracing the workshop. He informed the participants about the mechanism followed in the base revision exercise and highlighted that expert committees constituted to steer the base revision of GDP, CPI and IIP held numerous meetings to arrive at the improvements being introduced in the new series. The methodologies proposed to be employed in the new series are as per the guidelines accepted internationally.

Inaugural session was followed by three technical sessions, one each on National Accounts, CPI and IIP, wherein proposed improvements in the revised series were presented. Presentations were followed by open house discussion, where queries of participants were addressed. Proposed improvements in the new series are also available on the website of the Ministry (www.mospi.gov.in) in the form of discussion papers. Users of National Accounts, CPI and IIP data may share feedback/comments/suggestions with the Ministry on the proposed changes.

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Samrat/

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