The Ministry of Statistics and Programme Implementation organised a pre-release consultative workshop in Mumbai to outline proposed changes in the upcoming base revision of GDP, CPI and IIP. The event brought together around 160 participants, including representatives from international organisations, the Reserve Bank of India, economists, statisticians, financial experts and officials from Central and State departments. Senior leaders addressing the inaugural session included Prof S. Mahendra Dev, Dr Poonam Gupta, Dr Saurabh Garg and Shri N. K. Santoshi.

Speakers highlighted key methodological enhancements aimed at improving accuracy, frequency and granularity of India’s macroeconomic indicators. MoSPI noted that the revised GDP series will incorporate new data sources such as turnover details from MGT 7/7A forms for multi-activity enterprises, broader use of GST data for validating corporate frames and refined GVA estimation for the unincorporated sector using ASUSE and PLFS datasets. Annual estimates for this sector will replace the earlier indicator-based approach.

For the revised CPI, the Ministry outlined expanded coverage of markets, towns and items, adoption of COICOP 2018, refined compilation methods and the use of administrative and online data alongside modern technology tools. Proposed changes in the IIP focus on updating the item basket, replacing inactive units, improving data quality and exploring chain-based and seasonally adjusted indices.

Participants shared feedback during open-house discussions on data sources, transparency and policy implications. MoSPI officials addressed queries and confirmed that further consultative workshops will be held. The Ministry reiterated its commitment to strengthening the national statistical system in line with the vision of “data for development” and Viksit Bharat 2047.