The Government of India has announced significant updates to the nation’s core macroeconomic indicators. Starting February 2026, new data series for retail inflation and GDP will be released, followed by a revised Index of Industrial Production (IIP) series in May 2026. This initiative aims to enhance data accuracy and ensure that official statistics accurately reflect the current structure of the Indian economy.
The announcement was made by the Ministry of Statistics and Programme Implementation (MoSPI), the authority responsible for compiling and publishing India’s key economic indicators such as GDP, CPI, and IIP. MoSPI indicated that the revised series will be launched after comprehensive consultations with economists, policymakers, and data users.
The government has delineated a clear rollout schedule:
These updates will replace the existing base-year series currently in use.
Revising base years is a standard global practice in economic statistics. Economies experience structural changes over time due to:
India last revised some of these series several years ago. Updating the base years ensures that indicators like GDP growth and inflation accurately reflect current realities.
MoSPI is conducting a pre-release consultative workshop to discuss:
This follows an earlier consultation held in Mumbai on November 26, 2025. Feedback from stakeholders will be instrumental in finalizing the revised series.
The workshop will involve a diverse range of stakeholders, including:
Notable attendees include Suman K Bery, Vice Chairman of NITI Aayog, V Anantha Nageswaran, Chief Economic Advisor, Saurabh Garg, Secretary of MoSPI, and N K Santoshi, Director General (Central Statistics).
The new data series will:
Accurate macroeconomic data is critical for monetary policy, fiscal decisions, and long-term development planning.
India will roll out new CPI and GDP data series from February 2026, with a new IIP series to be released in May 2026. The CPI will utilize 2024 as the base year, while GDP and IIP will adopt 2022–23. This revision aims to reflect structural changes in the economy, with MoSPI consulting economists and stakeholders before finalizing changes. The initiative will enhance data accuracy, policy decisions, and economic transparency.
Q1. What are the new base years for CPI, GDP, and IIP?
Answer: The new base year for the Consumer Price Index (CPI) is 2024, while GDP and the Index of Industrial Production (IIP) will use 2022–23 as their base years.
Q2. Why is India revising its macroeconomic indicators?
Answer: India is revising its macroeconomic indicators to ensure they accurately reflect the current economic landscape, incorporating structural changes and updated methodologies.
Q3. Who is responsible for the new data series in India?
Answer: The Ministry of Statistics and Programme Implementation (MoSPI) is responsible for compiling and publishing the new data series for India’s key economic indicators.
Q4. When will the new CPI and GDP data be released?
Answer: The new Consumer Price Index (CPI) data will be released on February 12, 2026, and the GDP data will follow on February 27, 2026.
Q5. What is the significance of revising economic indicators?
Answer: Revising economic indicators improves the accuracy of macroeconomic data, which is crucial for effective policy formulation, fiscal planning, and international economic assessments.
Kutos : AI Assistant!
