The Ministry of Statistics and Programme Implementation (MoSPI) does not expect a significant change in India’s GDP growth estimates after the release of the revised national accounts series in February next year, MoSPI Secretary Saurabh Garg said on Tuesday.
“Too early to say on its impact on GDP numbers. In general, we don’t expect much change from our previous expectations,” Garg told journalists here. The government is set to release the new GDP series along with a new inflation series. The revised national accounts framework will also include back-series data for 2022-23, 2023-24 and 2024-25, enabling continuity and comparison.
India’s growth outlook has already improved after the economy recorded a higher-than-expected 8.2 per cent growth in in the second quarter. This has led to an increase in the growth projections for 2025-26. The Reserve Bank of India (RBI) has raised its GDP growth forecast for the economy to 7.3 per cent.
A key aspect of the revised methodology is the expanded use of real-time data sources, particularly Goods and Services Tax Network (GSTN) filings.
“We now have a lot of real-time data available with GSTN and we will be able to use that to help estimate state domestic product. We will have better triangulation mechanisms available,” Garg said. The ministry will also roll out capacity-building workshops for states to strengthen Gross State Domestic Product (GSDP) estimates.
Garg highlighted the ministry’s efforts to better measure the informal economy — traditionally one of the most challenging aspects of national accounting.
“The Annual Survey of Unincorporated Sector Enterprises (ASUSE) will inform the base revision in GDP, with more granular and more frequent information now available,” he explained.
