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A REVISION OF GDP AND ITS IMPLICATIONS Why in the News? India has released a revised GDP series with 2022–23 as the new base year, replacing the earlier 2011–12 base year series. The revision reduces the estimated absolute size of GDP and alters the sectoral composition of production in the economy. While the correction in …
Read MoreNew GDP Base Year Series Excludes UPI Data Why in the News ? The Ministry of Statistics and Programme Implementation (MoSPI) will release a revised GDP series with 2022–23 as the base year. However, it has decided not to include Unified Payments Interface (UPI) transaction data due to instability and methodological limitations in accurately estimating …
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