Ministry of Statistics and Programme Implementation (MoSPI) asks states to shift GSDP base year to 2022-23

Key facts

• The Ministry of Statistics and Programme Implementation (MoSPI) released guidelines for compiling Gross State Domestic Product (GSDP) with the base year 2022-23.
• MoSPI revised the national Gross Domestic Product (GDP) base year to 2022-23 from the previous base year of 2011-12.
• The guidelines prioritise greater data integration by incorporating administrative records, sectoral databases, and survey inputs to improve the reliability of GSDP and Gross State Value Added (GSVA) estimates.
• Currently, 34 states and Union Territories compile GSDP estimates using the 2011-12 base year, excluding Lakshadweep and Dadra & Nagar Haveli and Daman & Diu.
• A sub-committee on regional accounts, chaired by former Indian Institute of Management (IIM) Ahmedabad professor Ravindra H Dholakia, was constituted under the Advisory Committee on National Accounts Statistics to facilitate the transition.