The Indian government has announced a significant overhaul of its key economic indicators, with a new series of data for Gross Domestic Product (GDP), Consumer Price Index (CPI) for retail inflation, and the Index of Industrial Production (IIP) set for release starting next year.
Revised Data Release Timeline
According to an official statement, the rollout of the updated statistics will be phased. The new series for retail inflation (CPI) and GDP data will be made public from February 2025. Subsequently, the revised Index of Industrial Production (IIP) figures will be released starting May 2025. This base revision is a periodic exercise undertaken to better reflect the changing structure of the economy and ensure data accuracy.
Pre-Release Consultative Workshop
To discuss the methodological changes and the revision process, the Ministry of Statistics and Programme Implementation has convened a crucial pre-release consultative workshop. This workshop, focused on the base revision of GDP, CPI, and IIP, is scheduled for Tuesday, December 23, 2025. Such consultations typically involve experts, stakeholders, and data users to ensure transparency and robustness in the new series.
Implications for Economic Analysis
The revision of the base year for economic indices is a standard statistical practice that allows for a more contemporary assessment of growth, inflation, and industrial activity. It incorporates new data sources, updated consumption patterns, and changes in the industrial landscape. The upcoming new series will provide policymakers, investors, and analysts with a more accurate and relevant picture of India's economic health, potentially leading to revised assessments of past growth trajectories and current economic momentum.
The move underscores the government's commitment to maintaining modern and reliable statistical systems, which are fundamental for informed decision-making in both the public and private sectors.
