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Indian States to Adopt New GDP Series by FY27 End, Ensuring Uniform Economic Data
M
Moneycontrol•21-09-2026, 08:32
Indian States to Adopt New GDP Series by FY27 End, Ensuring Uniform Economic Data
- •Indian states are set to transition to a new GDP series by the end of the current fiscal year, aligning with the Centre's revised national accounts series.
- •The move aims to standardize growth and economic output estimates across states, facilitating better comparability.
- •The Ministry of Statistics and Programme Implementation (MoSPI) has been collaborating with states and UTs on this transition, which is significantly faster than previous revisions.
- •A simultaneous shift will resolve issues caused by states using different base years, which complicated comparisons of growth rates and fiscal deficits.
- •MoSPI released final guidelines for Gross State Value Added (GSVA) estimates under the new base year on May 7 and guidelines for District Domestic Product estimates on June 3.
Key Questions Answered
Indian states are expected to transition to the new 2022-23 GDP base year series by the end of the current fiscal year (FY27), completing the rollout nationwide.
The Ministry of Statistics and Programme Implementation (MoSPI) has been working closely with states and Union Territories to finalise the methodology and operationalise the revised GSDP series.
The Centre shifted its national accounts to the new 2022-23 base year on February 28 when it released the third-quarter GDP data and second advance estimates for FY26.
