| Category | Details |
|---|---|
| Announcement | Union Finance Minister Nirmala Sitharaman announced the change during the Winter Session of Parliament. |
| New Base Year | 2022-23 (replacing the existing 2011-12 base year). |
| Effective Date | February 26-27, 2026. |
| Purpose | To align economic data with current realities, improve credibility, and enhance global perception. |
| Key Indicators | GDP (Gross Domestic Product), IIP (Index of Industrial Production), Inflation and Price Indices, Sectoral Data. |
| Major Changes | Growth of the digital economy, changes in consumption patterns, new employment sectors, GST rollout, post-COVID recovery, and technological shifts. |
| IMF Feedback | India received a "C" grade from the IMF due to outdated statistical framework (not data quality). |
| Benefits | More relevant, timely, and globally comparable economic statistics. |
| Challenges | Initial confusion, data gaps, transition phase, and potential distortions from COVID-era disruptions. |
| Important Sectors | Renewables, digital services, fintech, and gig economy jobs. |
| GDP Growth | India posted 8.2% GDP growth for the July-September 2025 quarter. |
| Concerns | Slow private investment, rising living costs, and issues with GDP deflator understating inflation. |
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