India's statistical system has faced criticism over data credibility. Discuss how the new National Accounts series seeks to address such concerns.

Credibility of national statistics rests on timeliness, methodological transparency and comparability of data. India's GDP estimates have long attracted questions on an ageing base year, weak coverage of the informal sector and opaque methodology. The new National Accounts series with base year 2022-23, released by MoSPI/NSO on 27 February 2026 for the years 2022-23 to 2025-26, is the institutional response to these concerns [1].

Criticisms of the existing statistical framework

• Outdated base year: the 2011-12 base no longer reflected the economy's sectoral structure, distorting weights and growth rates [1].
• Thin data on the unorganised sector, historically estimated through proxies and ratios rather than direct enumeration.
• Opacity of methodology, which limited independent scrutiny of headline growth numbers.

How the new series addresses them

• A representative base year: FY 2022-23 was chosen as a recent post-COVID "normal" year with robust cross-sectoral data availability [2].
• Better primary data: the series draws on the Annual Survey of Unincorporated Sector Enterprises (ASUSE) and the Periodic Labour Force Survey (PLFS), strengthening informal-sector measurement, alongside improved secondary and tertiary sector methods [1].
• Expenditure-side reform: Private Final Consumption Expenditure now follows the international COICOP 2018 classification, aiding cross-country comparability [1].
• Consultative transparency: MoSPI released successive discussion papers inviting public comment on production/income and expenditure-approach changes before finalisation, and published an FAQ, "Understanding the New Series of GDP" [3][4].
• Comparability safeguards: a detailed "Source and Methods" volume is due by August 2026 and a back-series linking estimates to earlier years by December 2026 [4].

Credibility, however, is built cumulatively: the interim absence of a back-series constrains long-run comparison, and state-level statistical capacity for sub-national accounts needs strengthening. Timely delivery of the promised methodology and back-series documents, coupled with sustained investment in survey infrastructure, would consolidate the reform and restore full confidence in India's statistical system as a public good.