India revamps national accounts to fix GDP measurement issues
India will launch a new GDP data series this week using more granular price deflation. The overhaul aims to address concerns about outdated measurement methods.
India 
IN has announced a comprehensive overhaul of its economic measurement framework through the launch of a revised national accounts series featuring a 2022/23 base year. The Ministry of Statistics and Programme Implementation introduced the new methodology to enhance the accuracy of real GDP growth calculations. This transition marks a significant shift to double deflation, a technical process that separately adjusts output and input prices for inflation, moving away from the previous reliance on single deflation and wholesale prices.
IN has announced a comprehensive overhaul of its economic measurement framework through the launch of a revised national accounts series featuring a 2022/23 base year. The Ministry of Statistics and Programme Implementation introduced the new methodology to enhance the accuracy of real GDP growth calculations. This transition marks a significant shift to double deflation, a technical process that separately adjusts output and input prices for inflation, moving away from the previous reliance on single deflation and wholesale prices.
