MoSPI Announces Base Year Revision for GDP, CPI, IIP
The Ministry of Statistics and Programme Implementation (MoSPI) plans to revise the base year for India's key economic measures - Gross Domestic Product (GDP), Consumer Price Index (CPI), and Index of Industrial Production (IIP) - to improve their relevance, accuracy, and comply with international standards. The new base years are 2022-23 for GDP and IIP, and 2024 for CPI. This effort involves input from various experts and utilizes digital advances for improved data collection and timely dissemination.
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