MoSPI decides a comprehensive exercise for revision of base year of Gross Domestic Product (GDP), Index of Industrial Production (IIP) and Consumer Price Index (CPI)

• MoSPI has undertaken a comprehensive base year revision of three flagship macro-statistics: GDP, IIP and CPI, to enhance relevance, accuracy and international comparability.
• New base years: GDP & IIP → 2022-23; CPI → 2024 (replacing GDP base 2011-12, IIP base 2011-12, CPI base 2012).
• Revision covers methodological improvement, new data sources, weight updation and incorporation of latest classifications (NIC-2025).
• Examinable for GS-III (Indian Economy — growth, employment, inflation) and Prelims (statistical system architecture).