MUMBAI: The Ministry of Statistics and Programme Implementation (MoSPI) on Wednesday held its first Pre-Release Consultative Workshop in Mumbai to brief key stakeholders on the upcoming base revision of GDP, CPI and IIP. The new statistical series is slated for release next year.
About 160 participants — including representatives from international bodies, the Reserve Bank of India, economists, financial sector experts, academics, and senior officials from central and state governments — attended the day-long session. The event was inaugurated by EAC–PM Chairman Prof. S. Mahendra Dev, RBI Deputy Governor Dr. Poonam Gupta, MoSPI Secretary Dr. Saurabh Garg, and Central Statistics Director General N. K. Santoshi.
Santoshi outlined key methodological upgrades in the ongoing revisions. Garg said MoSPI is strengthening India’s statistical system with a focus on timeliness, frequency, granularity, expanded coverage, administrative data, technology use, and improved dissemination — all aligned with the “data for development’’ vision and Viksit Bharat 2047.
Gupta underscored the role of revised GDP, CPI and IIP series in monetary policy, noting RBI’s efforts to enhance the Database on Indian Economy (DBIE). Dev emphasised better measurement of the informal sector and integrating digital and administrative datasets such as GSTN, PFMS, and NPCI.
Technical presentations detailed major changes: expanded use of GST and corporate filings for GDP estimates; annual estimates of the unincorporated sector using ASUSE and PLFS; wider CPI coverage using COICOP 2018 and new data sources; and a revamped IIP basket with improved data quality and potential chain-based and seasonally adjusted indices.
An open-house session drew feedback on transparency, data sources and policy implications. Garg closed the workshop, announcing that more consultations will follow and thanked households, enterprises and industries for their continued data support.
