Release of the new series of GDP, CPI and IIP is scheduled for 27th February 2026, 12th February 2026 and May 2026

1. At a Glance

• MoSPI has undertaken a comprehensive base year revision of GDP, IIP (to 2022-23) and CPI (to 2024) to enhance relevance, accuracy and international comparability [S1][S2].
• New series release schedule: CPI – 12 Feb 2026, GDP – 27 Feb 2026, IIP – May 2026 [S1].
• For aspirants: cuts across GS-III (Indian economy, growth, inflation, industrial policy) and Prelims data literacy on macro indicators.

2. Why in the News

• PIB release dated 11 Feb 2026 by Ministry of Statistics and Programme Implementation (MoSPI) formally announcing the release calendar of new base-year series [S1].
• Follows Pre-release Consultative Workshops at Bharat Mandapam (23 Dec 2025) and Chennai (30 Jan 2026) — the third such workshop [S3][S4].
• Discussion papers on the new GDP series were released on 21 Nov 2025 and 16 Dec 2025 seeking user feedback [S5].

3. Background & Evolution

• GDP base year history: 1948-49 → 1960-61 → 1970-71 → 1980-81 → 1993-94 → 1999-2000 → 2004-05 → 2011-12 (current) → 2022-23 (new) [S5].
• CPI (Combined/Rural/Urban) current base 2012 → 2024 (new); IIP current base 2011-12 → 2022-23 (new) [S1][S2].
• Advisory Committee on National Accounts Statistics (ACNAS) — a permanent standing committee, reconstituted June 2024 under Prof. Biswanath Goldar, recommended rebasing in August 2024 [S2].
• Rebasing is internationally recommended every ~5 years under UN System of National Accounts (SNA) to capture structural change.

4. Core Static Facts

• Nodal Ministry: Ministry of Statistics & Programme Implementation (MoSPI) [S1].
• Compiling body: National Statistical Office (NSO) under MoSPI [S1].
• New base years: GDP – 2022-23; IIP – 2022-23; CPI – 2024 [S1].
• Release dates: CPI 12 Feb 2026; GDP 27 Feb 2026; IIP May 2026 [S1].
• Guiding bodies: Technical Advisory Committees / Expert Groups with members from academia, central & state governments, RBI [S2].
• GDP committee: ACNAS, chair Prof. Biswanath Goldar [S2].
• 'Source and Methods' publication: scheduled August 2026; Back-series: December 2026 [S5].

5. Multi-Dimensional Analysis

Economic - Updated weights will better reflect services-led growth, digital economy, gig work, and new manufacturing baskets, addressing under-representation in the 2011-12 series. - Incorporation of GST data and e-Vahan as administrative sources promises broader formal-sector coverage [S5]. - Shift to double deflation for manufacturing GVA — a long-standing demand to remove input-price distortion in real GDP [S5].

Administrative / Governance - Methodology improvements include new survey data, weight updation, enhanced corporate classification [S2][S5]. - Pre-release consultative workshops (Delhi, Chennai) signal an effort at transparency absent in earlier base revisions [S3][S4].

Scientific / Technological - Use of administrative big data (GST, e-Vahan) marks methodological modernisation aligned with SNA 2008 principles [S5].

Historical - Last GDP rebasing in 2015 (to 2011-12) faced credibility debates (back-series, MCA-21 use); the new exercise explicitly addresses these via discussion papers and back-series in Dec 2026 [S5].

6. Recent Developments (last 12-18 months)

• June 2024 – ACNAS reconstituted [S2].
• August 2024 – ACNAS recommends rebasing to 2022-23 [S2].
• 21 Nov 2025 & 16 Dec 2025 – MoSPI discussion papers on new GDP series [S5].
• 23 Dec 2025 – Pre-release Consultative Workshop at Bharat Mandapam, New Delhi [S3].
• 30 Jan 2026 – Third Pre-release Workshop, Chennai [S4].
• 11 Feb 2026 – PIB release announcing new-series calendar [S1].

7. Prelims Hooks

• MoSPI (not RBI or MoF) compiles GDP, CPI and IIP [S1].
• New GDP & IIP base year: 2022-23; new CPI base year: 2024 [S1].
• CPI new series release: 12 February 2026 [S1].
• GDP new series release: 27 February 2026 [S1].
• IIP new series release: May 2026 [S1].
• ACNAS chair: Prof. Biswanath Goldar [S2].
• ACNAS reconstituted in June 2024 [S2].
• New GDP methodology to use double deflation and GST/e-Vahan data [S5].
• 'Source and Methods' document: August 2026; back-series: December 2026 [S5].
• Pre-release workshops held at Bharat Mandapam (Dec 2025) and Chennai (Jan 2026) [S3][S4].
• Current outgoing GDP base year: 2011-12 [S5].
• Inflation measured by CPI-Combined (Rural + Urban) is RBI's nominal anchor under flexible inflation targeting (4% ± 2%).

8. Mains Relevance

• GS-III – Indian Economy: growth, development, employment; planning, mobilisation of resources; inclusive growth.
• GS-II – Government policies and intervention; statutory and regulatory bodies (MoSPI as a statistical institution).
• Plausible question stems: 1. "Periodic revision of base years of macroeconomic indicators is essential for credible policy-making." Discuss in the context of the 2022-23/2024 base year revision of GDP, IIP and CPI. 2. Examine how integration of administrative datasets such as GST and e-Vahan can improve the quality of India's National Accounts Statistics. 3. Critically evaluate the methodological reforms in the new GDP series and their implications for inflation targeting by the RBI.

9. Related Topics to Study Next

• National Statistical Commission (NSC) — apex advisory body for statistical reforms.
• System of National Accounts (SNA) 2008 — UN methodological framework guiding GDP.
• Periodic Labour Force Survey (PLFS) — major MoSPI dataset feeding the new series.
• Household Consumption Expenditure Survey (HCES) 2022-23 & 2023-24 — basis for new CPI weights.
• MCA-21 database — used in corporate sector GVA; controversy around 2011-12 series.
• Flexible Inflation Targeting (FIT) framework — directly impacted by new CPI weights.
• Wholesale Price Index (WPI) — separate, compiled by DPIIT; base 2011-12.
• Annual Survey of Industries (ASI) & Index of Eight Core Industries — IIP linkages.

10. Common Errors / Trap Areas

• WPI vs CPI: WPI is compiled by DPIIT (Ministry of Commerce), NOT MoSPI; only CPI is MoSPI.
• Base year vs reference year: the new GDP base is 2022-23, not 2024 (CPI base is the calendar year 2024) [S1].
• ACNAS is a standing committee, not an ad-hoc body — and is for GDP, not CPI/IIP.
• IIP release is in May 2026, not February — only CPI (12 Feb) and GDP (27 Feb) release in February [S1].
• Inflation targeting anchor is CPI-Combined, not WPI or CPI-IW.

11. Sources

• [S1] Release of new series of GDP, CPI and IIP — PIB, 11 Feb 2026 — https://www.pib.gov.in/PressReleseDetailm.aspx?PRID=2226269 — (tier 1)
• [S2] MoSPI decides comprehensive base year revision — PIB — https://www.pib.gov.in/PressReleasePage.aspx?PRID=2225364 — (tier 1)
• [S3] Pre-release Consultative Workshop, Bharat Mandapam, 23 Dec 2025 — PIB — https://www.pib.gov.in/PressReleasePage.aspx?PRID=2207861 — (tier 1)
• [S4] Third Pre-release Consultative Workshop, Chennai, 30 Jan 2026 — PIB — https://www.pib.gov.in/PressReleasePage.aspx?PRID=2220999 — (tier 1)
• [S5] Press Note / FAQ on New Series of GDP Estimates with Base Year 2022-23 — MoSPI, 27 Feb 2026 — https://www.mospi.gov.in/uploads/latestReleases/latest_release_1772189865181_f040336d-bc57-4aed-b80f-586d9ccb279e_Press_Note_on_New_Series_of_GDP_Estimates_with_Base_Year_2022-23_27022026.pdf — (tier 1)