Parliament Question: Downgrading of data quality for GDP by IMF

GOVERNMENT OF INDIA MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION RAJYA SABHA UNSTARRED QUESTION NO. 320 TO BE ANSWERED ON 02.02.2026 DOWNGRADING OF DATA QUALITY FOR GDP BY IMF 320. SHRI JAVED ALI KHAN: Will the Minister of STATISTICS AND PROGRAMME IMPLEMENTATION be pleased to State: (a) whether Ministry of Statistics and Programme Implementation releases various data including data for GDP on quarterly basis; (b) if so, the details thereof; (c) whether International Monetary Fund (IMF) has downgraded the data quality for GDP released by the Ministry from Grade 'B' to Grade 'C' category; (d) if so, the details thereof and details of reasons cited by the IMF; and (e) the details of steps Ministry will take to maintain purity and sanctity of national data released by it? ANSWER MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION; MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF PLANNING AND MINISTER OF STATE IN THE MINISTRY OF CULTURE (RAO INDERJIT SINGH) (a) & (b): Yes Sir. Ministry of Statistics and Programme Implementation (MoSPI) releases annual as well as quarterly estimates of National Accounts Statistics as per Advance Release Calendar (ARC). Accordingly, the First Advance Estimates (FAE) of Gross Domestic Product (GDP) for the Financial Year (FY) 2025-26 was released on 7th January, 2026 and Quarterly Estimates of Gross Domestic Product (GDP) for the July-September Quarter (Q2) of Financial Year (FY) 2025- 26 was released on 28th November, 2025. (c) & (d): IMF has included Data Adequacy Assessment Framework as part of its annual review of economies under Article IV consultation in 2024. The framework is meant to review the aspects related to coverage, granularity and frequency & timeliness in compilation of GDP. In both years of assessment i.e. 2024 & 2025, the IMF has placed GDP under ‘C’ due to outdated base yearwhich is 2011-12. However, Ministry has decided to update the base year from 2011-12 to 2022- 23. (e): Compilation of National Accounts Statistics is done, to the possible extent, as per System of National Accounts (SNA) 2008, which is internationally accepted set of recommendations endorsed by United Nations Statistical Commission. Moreover, National Accounts Statistics also adheres to Special Data Dissemination Standard (SDDS) standards of IMF since 2001. SDDS ensure that the statistics compiles with its four key aspects i.e. Coverage, Periodicity, Timeliness; Access by public; Integrity of the disseminated data and Quality of the disseminated data. In addition to this, the compilation framework is finalized under the Advisory Committee on National Accounts Statistics, which comprises of experts from Academia, Central and State Government, RBI etc. *******