Thu Feb 26 09:23:50 UTC 2026: ### Headline: India Revamps GDP Calculation Methods for Enhanced Accuracy

The Story:

India’s Ministry of Statistics and Programme Implementation is set to release a new series of national accounts data on Friday, February 27, 2026, incorporating significant methodological and statistical upgrades. These changes aim to improve the accuracy and granularity of India’s Gross Domestic Product (GDP) and Gross Value Added (GVA) data. The updates include a shift in the base year from 2011-12 to 2022-23, enhanced sector-wise methodologies, and the inclusion of new data sets like Goods and Services Tax (GST) data.

The revisions touch upon various sectors, from non-financial private corporations to household consumption expenditure, ensuring a more comprehensive and precise representation of the Indian economy. The enhanced use of GST data, Annual Survey of Unincorporated Sector Enterprises (ASUSE), and Periodic Labour Force Survey (PLFS) are central to these improvements.

Key Points:

  • The base year for GDP and GVA calculation is being updated from 2011-12 to 2022-23.
  • Sector-wise improvements include activity-wise revenue share allocation for non-financial private corporations.
  • The value of housing services provided by governments to their employees will now be included in the general government sector calculations.
  • Household sector data will be directly estimated annually using ASUSE and PLFS, rather than extrapolated.
  • GST data will be used to better estimate regional output of private corporations and determine the contribution of value added by private companies to the GDP.
  • New data sources like the Reserve Bank of India’s STRBI and actual financial data of NBFCs from the Ministry of Corporate Affairs will be incorporated.
  • Updated methodologies and data sources will be used in the agriculture sector, based on studies by various research institutes.

Key Takeaways:

  • The revised GDP calculation methods reflect a commitment to capturing a more accurate and up-to-date snapshot of the Indian economy.
  • The incorporation of GST data signifies a move towards leveraging real-time data for economic assessment.
  • Enhanced granularity in sector-wise calculations aims to provide a more detailed understanding of economic drivers.
  • The shift to annual direct estimation for the household sector acknowledges its significant contribution to the economy.
  • The inclusion of previously uncounted government services demonstrates a more comprehensive approach to national accounts.

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