The upcoming Gross Domestic Product (GDP) series, with 2022–23 as the new base year, will incorporate data from the Goods and Services Tax (GST), the e-Vahan portal and the value of household services provided by cooks, drivers and domestic workers, in a move aimed at improving the accuracy of economic measurement. GDP figures for the third quarter (October–December 2025) under the revised series are scheduled to be released on Friday.
According to a set of FAQs issued by the Ministry of Statistics and Programme Implementation (MoSPI), base years are periodically updated to reflect structural changes in the economy. The national accounts base year is being revised from 2011–12 to 2022–23. Although MoSPI typically updates the data series every five years, the revision was delayed due to the Covid-19 pandemic and the rollout of GST.
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The ministry has indicated that back-series data under the new base year is expected to be released by December 2026. Under the revised series, actual level estimates will be compiled using regular annual surveys, such as the Annual Survey of Unincorporated Sector Enterprises (ASUSE) and the Periodic Labour Force Survey (PLFS). These surveys are expected to provide a more accurate and timely assessment of economic activity in the household sector.
GST data will be used to allocate all-India private corporate sector estimates across states and to cross-verify figures in the annual accounts. Additionally, information from the e-Vahan portal will be utilised to estimate Private Final Consumption Expenditure (PFCE) relating to road transport services.
For the first time, the economic contribution of hired domestic workers—including cooks, drivers and household cleaning staff—will be factored into GDP calculations, broadening the coverage of household sector activities.
The new series also introduces methodological changes in price adjustment. The earlier practice of single deflation has been entirely discontinued, with double deflation now being applied in sectors such as manufacturing and agriculture. This shift is expected to enhance the precision and reliability of GDP deflators.
Meanwhile, the revision of the Wholesale Price Index (WPI) base year is still underway. Until the updated WPI is released, the existing index will continue to serve as the deflator. However, the manner in which WPI is used has been modified in the new series, with the index now applied at a more granular level compared to the previous series.
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