India’s New GDP Series Offers Better Insights into Informal Sector and Consumption Trends

The Ministry of Statistics and Programme Implementation (MOSPI) has introduced a new GDP series, shifting the base year to 2022–23. This update is designed to ensure India’s growth statistics mirror the current economic structure rather than outdated benchmarks.

The revised framework incorporates annual and quarterly estimates from FY23 to FY26, offering deeper insights into consumption, investment, and informal sector contributions. According to the second advanced estimates, India’s GDP growth for FY26 is pegged at 7.6%, slightly higher than earlier projections of 7.4%.

Experts note that the new series will help policymakers monitor structural shifts, track the informal economy, and design more effective fiscal strategies.

Key Highlights

• Base Year Shift: From 2011–12 to 2022–23.
• Coverage: Annual & quarterly estimates for FY23–FY26.
• Growth Projection: FY26 GDP pegged at 7.6%.
• Focus Areas: Informal economy, consumption trends, structural changes.
• Policy Impact: Better alignment with present-day economy for planning.

This recalibration marks a crucial step in making India’s economic data more relevant, transparent, and actionable for both policymakers and investors.

Sources: Fortune India, Forbes India, MOSPI