The Government has decided to update the base year for compilation of Gross Domestic Product (GDP) from 2011-12 to 2022-23. An Advisory Committee on National Accounts Statistics (ACNAS) comprising of representatives from Central and State Government, Reserve Bank India, Academia and Researchers has been constituted for identification of new data sources and to advise on the methodology for compilation of National Accounts Statistics in the revised series.

Steps, such as constitution of ACNAS, standardization of data structure to promote harmonized quality reporting across National Statistical System and use of administrative data are the steps taken by the Government to improve the statistical system.

This information was given by the Minister of State (Independent Charge) of the Ministry of Statistics and Programme Implementation, Minister of State (Independent Charge) of the Ministry of Planning and Minister of State in the Ministry of Culture, Rao Inderjit Singh in a written reply in the Rajya Sabha today.

GDP base year revision: government updates base and forms advisory committee to standardize national accounts methodology. The Government announced a GDP base year revision and constituted an Advisory Committee on National Accounts Statistics (ACNAS) to identify new data sources and advise on compilation methodology; it will standardize data structures across the National Statistical System and incorporate administrative data to harmonize quality reporting for the revised national accounts series.