Release of Supply and Use Tables of 2022-23 and 2023-24: Detailed Product-Industry Insights into the Indian Economy

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Supply and Use Tables (SUTs) 2022-23 & 2023-24 — UPSC Study Note

1. At a Glance

• Supply and Use Tables (SUTs) are matrix-based statistical statements that map what each industry produces (supply) against what each industry/final user consumes (use) at a product level, reconciling the production, income and expenditure approaches to GDP. [S1][S2]
• Released by NSO, Ministry of Statistics & Programme Implementation (MoSPI) on 15 May 2026 — the first SUTs under the new 2022-23 base year, replacing the 2011-12 series. [S1][S2]
• Important because under the revised framework, SUTs are now the integrating spine of India's annual GDP estimation, eliminating statistical discrepancies between approaches. [S1][S3]

2. Why in the News

• 15 May 2026: NSO released SUTs for 2022-23 and 2023-24 — first such release under the base year 2022-23 series. [S1][S2]
• Comes after the new GDP series (base 2022-23) was released on 27 February 2026, replacing the 2011-12 base year. [S1][S3]
• MoSPI confirmed adoption of the SUT framework in the new GDP series specifically to eliminate statistical discrepancies. [S3]

3. Background & Evolution

• SUTs follow the United Nations System of National Accounts (SNA) framework — international best practice. [S1]
• India historically compiled Input-Output Transaction Tables (IOTTs); SUTs are a more flexible, annually-revised variant. [S1]
• Base year revisions in Indian National Accounts: 1948-49 → 1960-61 → 1970-71 → 1980-81 → 1993-94 → 1999-2000 → 2004-05 → 2011-12 → 2022-23 (2026 release). [S1][S3]
• Earlier base year (2011-12) became outdated as structural shifts (digital economy, services, formalisation) were unrepresented.

4. Core Static Facts

• Releasing body: National Statistics Office (NSO), MoSPI. [S1][S2]
• Framework basis: UN System of National Accounts (SNA). [S1]
• New base year: 2022-23 (earlier 2011-12). [S1][S3]
• GDP new series release date: 27 February 2026. [S1][S3]
• SUT release date: 15 May 2026. [S1][S2]
• Data sources for SUTs:
• Annual Survey of Industries (ASI) — organised manufacturing. [S2]
• Annual Survey of Unincorporated Sector Enterprises (ASUSE) — informal non-agriculture. [S2]
• Household Consumption Expenditure Survey (HCES) — private final consumption. [S2]
• Administrative databases of government departments and regulators. [S2]
• Services share of GVA (2022-23): >50% (~USD 1.4 trillion). [S2]
• Material-input-intensive industries (lowest GVA/GVO ratio, 2022-23): meat/fish/fruit/vegetable/oil processing; dairy products; communication equipment; coke & refined petroleum. [S2]

5. Multi-Dimensional Analysis

Economic - SUTs reconcile production, income and expenditure approaches simultaneously at the final stage — reducing statistical discrepancy in GDP. [S1][S3] - Reveal inter-industry linkages, allowing identification of high-multiplier sectors for policy targeting. - Capture import dependence and intermediate consumption by product — useful for Atmanirbhar Bharat and PLI design.

Administrative / Statistical Governance - Integrates ASI, ASUSE, HCES and admin data into a single coherent matrix — a federalism/data-coordination achievement. [S2] - Aligns India with SNA 2008 (moving toward SNA 2025) norms used by OECD/UN. [S1]

Scientific / Methodological - Product-by-industry matrix at fine disaggregation enables GVA-to-GVO ratios, revealing input intensity by industry. [S2] - Underpins CPI/IIP basket revision, deflators, and KLEMS productivity research. [S3]

Social - Better capture of informal sector (via ASUSE) and household consumption (via HCES) improves visibility of unorganised workers and rural consumption.

6. Recent Developments (last 12-18 months)

• Feb 2026: New GDP series with base year 2022-23 released. [S1][S3]
• 15 May 2026: SUTs for 2022-23 and 2023-24 released with detailed Methodological Note. [S1][S2]
• Annual revised estimates now fully integrated with SUT architecture (procedural change). [S1]

7. Prelims Hooks

• SUTs released by: NSO under MoSPI — not RBI, not NITI Aayog. [S1]
• Release date: 15 May 2026. [S1]
• New base year: 2022-23, replacing 2011-12. [S1][S3]
• Framework: UN System of National Accounts (SNA). [S1]
• First SUT release under new base year series. [S1]
• New GDP series launch date: 27 February 2026. [S1][S3]
• Services share in GVA (2022-23): >50%. [S2]
• ASI covers organised manufacturing; ASUSE covers informal non-agriculture. [S2]
• HCES = source for private final consumption in SUTs. [S2]
• SUTs reconcile production + income + expenditure approaches — eliminating statistical discrepancy. [S3]
• Industries with lowest GVA/GVO ratio (highest input intensity): petroleum refining, dairy, meat processing, communication equipment. [S2]
• SUTs are a product × industry matrix (not industry × industry like classic IOTT).

8. Mains Relevance

• GS-III: Indian Economy — National Income Accounting, GDP measurement, statistical infrastructure.
• GS-II: Governance — role of statutory bodies (NSO/MoSPI) in policy data.
• Syllabus: "Indian economy and issues relating to planning, mobilization of resources, growth, development"; "Government policies and interventions".

Plausible question stems - "Discuss the significance of the shift to the 2022-23 base year and adoption of the SUT framework in improving the credibility of Indian GDP estimates." (15M) - "Supply and Use Tables represent a methodological leap over traditional Input-Output Tables. Examine in the Indian context." (10M) - "Examine how integration of ASI, ASUSE and HCES into SUTs improves the measurement of the informal economy." (15M)

9. Related Topics to Study Next

• New GDP series base year 2022-23 — parent reform driving SUTs. [S3]
• System of National Accounts (SNA) 2008/2025 — international framework.
• Annual Survey of Industries (ASI) — key SUT input. [S2]
• HCES 2022-23 & 2023-24 — basis for consumption row in Use Table. [S2]
• PLFS / ASUSE — informal sector capture.
• CPI and WPI base year revisions — sister reforms.
• NSO & MoSPI structure — organisational set-up.
• KLEMS India database — productivity studies relying on SUTs.

10. Common Errors / Trap Areas

• Wrong ministry: SUTs released by MoSPI/NSO, not RBI or NITI Aayog. [S1]
• Base year confusion: New base is 2022-23, not 2020-21 or 2021-22. [S1][S3]
• SUT ≠ IOTT: SUTs are product × industry rectangular matrices; IOTTs are industry × industry square matrices.
• GDP series launch date (27 Feb 2026) vs SUT release date (15 May 2026) — distinct events. [S1]
• ASI vs ASUSE: ASI = organised manufacturing; ASUSE = unorganised/informal non-agri. Easy to swap. [S2]

11. Sources

• [S1] Release of Supply and Use Tables of 2022-23 and 2023-24 — https://www.mospi.gov.in/uploads/latestReleases/latest_release_1778842800782_05f10605-5575-44cb-87cf-a770e5a80b1c_Press_Release_Page___Press_Information_Bureau.pdf — (tier: 1)
• [S2] Supply Use Tables, MoSPI publication portal — https://mospi.gov.in/publication/supply-use-tables — (tier: 1)
• [S3] New Series of Gross Domestic Product (GDP) Estimates with Base Year 2022-23, PIB — https://www.pib.gov.in/PressReleasePage.aspx?PRID=2233518 — (tier: 1)