December 2, 2024 10:08 PM

Government to update GDP base year to 2022-23

The Government of India has announced its decision to revise the base year for the calculation of Gross Domestic Product (GDP) from 2011-12 to 2022-23, marking a significant update to the country’s national accounting framework. An Advisory Committee on National Accounts Statistics (ACNAS) has been constituted to facilitate the transition. The committee includes representatives from central and state governments, the Reserve Bank of India, academia, and research institutions. Its primary rol...