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Ministry of Statistics and Programme Implementation (MoSPI) | National Statistical Office (NSO) | NITI Aayog
The Government of India has initiated a sweeping modernization of the national statistical system to better capture structural shifts, including formalization under GST and the expansion of the digital economy. A key pillar of this reform is the base year revision for major economic indices. The GDP and IIP base years are being updated from 2011-12 to 2022-23, selected as the most recent “normal” year post-pandemic disruptions. Simultaneously, the Consumer Price Index (CPI) base year is shifting to 2024, utilizing data from the Household Consumption Expenditure Survey (HCES) 2023-24 to refresh consumption weights for rural and urban households.
Enhanced Measurement of the Informal and Services Sectors To address data gaps in one of India’s most dynamic economic segments, the National Statistical Office (NSO) has revamped its survey frameworks:
Informal Economy: The introduction of Quarterly Bulletins on Unincorporated Sector Enterprises (QBUSE) in 2025 provides interim, high-frequency results on scale and employment, moving beyond traditional annual reports.
Services Sector: A pilot for the Annual Survey of Service Sector Enterprises (ASSSE) has been launched to capture granular data on the incorporated non-agricultural non-manufacturing sector, including Gross Value Added (GVA) and capital formation.
Labor Market Statistics: The Periodic Labour Force Survey (PLFS) has transitioned to generating monthly national estimates and has extended quarterly rural coverage, allowing for near-real-time tracking of employment trends.
Digital Transformation and Granular Planning The modernization leverages technology to improve data quality and decentralize planning.
The “District as a Statistical Unit” approach now enables district-level estimates across flagship surveys like PLFS and ASUSE to support localized policy interventions.
Data collection has moved to the e-SIGMA platform, utilizing Computer Assisted Personal Interviewing (CAPI) with AI-enabled validation.
Furthermore, public access has been expanded through the e-Sankhyiki portal, the GoIStats mobile app, and a revamped Microdata Portal, which has recorded 88 lakh hits since January 2025.
What is the significance of “Rebasing” economic indices like GDP and CPI? Rebasing involves updating the reference year and the basket of goods used to calculate an index to reflect current economic realities. Over time, consumption patterns shift (e.g., more spending on digital services) and new industries emerge (e.g., renewable energy). By updating the base year to 2022-23 for GDP and 2024 for CPI, the government ensures that these indicators accurately measure the relative contributions of modern sectors and the true cost of living, preventing “statistical drift” from outdated benchmarks.
Policy Relevance
The modernization of India’s statistical infrastructure marks a decisive shift toward evidence-based, decentralized governance.
Improved Policy Calibration: Real-time data from monthly PLFS and quarterly QBUSE allows the RBI and Ministry of Finance to adjust monetary and fiscal policies more responsively to immediate shocks.
Empowering Local Governance: By adopting the district as a primary statistical stratum, the government provides the necessary data for District Development Plans, moving away from “one-size-fits-all” national strategies.
Global Credibility: Aligning with the UN Statistical Commission’s best practices ensures that India’s economic data remains comparable and trustworthy for international investors and multilateral agencies.
Relevant Question for Policy Stakeholders: How can the newly granular district-level data be leveraged to create a “Competitive Federalism” index that incentivizes districts to improve specific socio-economic indicators in real-time?
Follow the full news here: Counting What Counts: Strengthening India’s National Accounts and Core Economic Statistics