India's economy gets a fresh measurement framework today. The government is releasing a new GDP series with 2022-23 as the base year, replacing the 2011-12 baseline used for over a decade. This revision incorporates updated inflation data, expanded digital economy coverage, and post-pandemic consumption patterns to provide more accurate economic growth figures. The Ministry of Statistics typically updates the base year every five years following international standards. The last major revision in 2015 added roughly $120 billion to India's measured economy size and significantly adjusted historical growth rates. The new series aims to better capture structural economic changes and improve statistical accuracy for policymakers and investors analyzing India's growth trajectory.
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