Chennai: The Ministry of Statistics and Programme Implementation (MoSPI) on Thursday held its third pre-release consultative workshop on the base revision of Gross Domestic Product (GDP), Index of Industrial Production (IIP) and Consumer Price Index (CPI), with Secretary Dr. Saurabh Garg placing strong emphasis on transparent, granular and user-centric official statistics to support policy decisions.
Addressing economists, policymakers and financial sector experts, Garg said robust, timely and accessible data is central to evidence-based governance, as India undergoes rapid structural transformation. He highlighted MoSPI’s focus on harmonising datasets, leveraging alternative data sources and expanding dissemination through mobile applications and data assistance services to widen public access to official statistics.
The Chennai workshop is part of a national consultation series aimed at sharing proposed methodological and structural changes before the release of revised data series. The new GDP series, with 2022–23 as the base year, is scheduled for release on February 27, 2026, followed by the revised CPI series with 2024 as base year on February 12, and the new IIP series on May 28.
Former RBI Governor and economist Dr. C. Rangarajan, the chief guest, said credible and scientifically rigorous data is essential for sound policymaking, adding that base revisions are necessary to reflect changes in India’s evolving economy. He described stakeholder engagement prior to data release as a positive step toward strengthening trust in official statistics.
The inaugural session also featured National Statistical Commission Chairman Prof. Rajeeva Laxman Karandikar, EAC-PM member Dr. Shamika Ravi, and Director General (Central Statistics) N.K. Santoshi, who outlined the extensive methodological reviews and consultations behind the revisions.
Around 150 participants, including economists, academics, RBI officials, representatives from global financial institutions and senior government officers, attended the workshop. Three technical sessions on GDP, IIP and CPI presented proposed improvements, followed by open discussions. MoSPI has invited public feedback on the draft changes, now available as discussion papers on its website.
