The stage is set for India’s GDP measurement to evolve with the introduction of the 2022-23 base year series on Friday, a change poised to validate the economy’s resilience and upward momentum. Enhanced data integration promises sharper economic insights.
Following a MoSPI sub-committee’s push for more GST data in computations, this revision modernizes from the 2011-12 era. It targets better representation of digital services, expanding unorganized sector coverage, and novel sources like EV registrations and gas usage.
Such refinements address past limitations, aligning stats with India’s current profile as a services-led powerhouse. The result? A stronger case for its top global economic standing.
Projections are encouraging: Domestic demand to drive 7.4% growth in FY 2025-26. SBI Research predicts 8-8.1% in FY 2026 Q3, with high-frequency data from Q3 FY 2025 signaling vitality. Union Bank sees 8.3% possible now, base effects notwithstanding.
Friday brings second advance FY 2025-26 figures, past three years’ revisions, and fresh quarterly data. In a world of flux, India’s internal dynamics shine, and this new series will illuminate that strength for all stakeholders.
Ultimately, this methodological leap forward cements India’s growth story, blending tradition with innovation for a competitive edge.