Chief Economic Advisor V. Anantha Nageswaran addressed the second pre-release consultative workshop on the Base Revision of Gross Domestic Product (GDP), Consumer Price Index (CPI), and Index of Industrial Production (IIP) in New Delhi. The workshop was organized to gather expert inputs and stakeholder feedback ahead of the official release of revised base year statistics.
In his remarks, the Chief Economic Advisor emphasized the importance of updating base years to reflect current economic realities, structural changes, and evolving consumption patterns. He noted that revisions are critical for ensuring accuracy in national accounts and for providing policymakers with reliable data to guide economic planning.
Officials highlighted that the consultative exercise brought together representatives from government departments, research institutions, and industry bodies. Discussions focused on methodological improvements, data harmonization, and the integration of new sectors into the statistical framework.
The Ministry of Finance underscored that the revision process is aimed at strengthening India’s statistical system, enhancing transparency, and aligning with international best practices. The updated indices are expected to provide a more realistic picture of growth, inflation, and industrial activity.
Experts concluded that the workshop reflects the government’s commitment to evidence-based policymaking and to maintaining robust statistical standards for measuring India’s economic performance.
