The Ministry of Statistics and Programme Implementation (MoSPI) organized the first Pre-Release Consultative Workshop on the Base Revision of GDP, CPI and IIP on November 26, 2025, in Mumbai. The workshop aimed to brief key stakeholders on the proposed revisions ahead of the release of the new series next year.
The event brought together around 160 participants from international organizations, the Reserve Bank of India, leading economists, financial sector experts, academics, senior statisticians, and officials from Central and State Governments. The inaugural session was addressed by Prof. S. Mahendra Dev, Chairman, EAC-PM; Dr. Poonam Gupta, Deputy Governor, RBI; Dr. Saurabh Garg, Secretary, MoSPI; and Shri N. K. Santoshi, Director General (Central Statistics). Shri N. K. Santoshi highlighted major features of the ongoing base revision of CPI, IIP, and GDP. Dr. Saurabh Garg expressed MoSPI's commitment to providing quality data. Dr. Poonam Gupta emphasized the significance of revised GDP, CPI, and IIP series. Prof. Mahendra Dev emphasized the importance of reliable statistics and the integration of digital data sources. Technical presentations by MoSPI officers provided an overview of improvements in data sources, methodologies, and compilation techniques.
The updates to GDP 2022-23 series will use activity-wise share of turnover data from Management & Administration Form (MGT 7/7A), explore GST data, and compile GVA estimates of the unincorporated sector using Annual Survey of Unincorporated Sector Enterprises (ASUSE) and Periodic Labour Force Survey (PLFS). Proposed changes in CPI will enhance coverage, adopt COICOP 2018, refine methodology, and include new data sources. IIP revision focuses on expanding coverage, enhancing data quality, and aligning with the industrial landscape. MoSPI is working on chain-based indices and seasonally adjusted IIP series.
Participants engaged actively, offering feedback. Secretary MoSPI thanked all participants and announced future consultative workshops. Posted on: 26 NOV 2025 7:04PM by PIB Delhi. Release ID: 2194901, Visitor Counter: 518.
Key Entities Referenced
Ministry of Statistics and Programme Implementation (MoSPI): The primary organizing entity and responsible for statistical data collection and policy in India.
Gross Domestic Product (GDP): One of the core statistical indices being revised and discussed during the workshop.
Consumer Price Index (CPI): One of the core statistical indices being revised and discussed during the workshop.
Index of Industrial Production (IIP): One of the core statistical indices being revised and discussed during the workshop.
Mumbai: Location of the Pre-Release Consultative Workshop on Base Revision of GDP, CPI and IIP.
Ministry of Statistics & Programme Implementation
Pre-Release Consultative Workshop on Base
Revision of GDP, CPI and IIP Held in Mumbai
26 November 2025
Posted On: 26 NOV 2025 7:04PM by PIB Delhi
The Ministry of Statistics and Programme Implementation (MoSPI) organised the first Pre-Release
Consultative Workshop on the Base Revision of GDP, CPI and IIP on 26 November 2025 at, Mumbai.
The workshop aimed to brief key stakeholders on the proposed revisions ahead of the release of the
new series next year.
The event brought together around 160 participants from international organisations, the Reserve
Bank of India, leading economists, financial sector experts, academics, senior statisticians and
officials from Central and State Governments. The inaugural session was addressed by Prof. S.
Mahendra Dev, Chairman, EAC–PM; Dr. Poonam Gupta, Deputy Governor, RBI; Dr. Saurabh
Garg, Secretary, MoSPI; and Shri N. K. Santoshi, Director General (Central Statistics).
Shri N. K. Santoshi, during his welcome address highlighted major features of the ongoing base
revision of CPI, IIP and GDP including the methodological changes and also about the data used in
these indices.
Dr. Saurabh Garg, Secretary, MoSPI, in his address expressed that to enable data driven policy
making in the country, MoSPI is continuously striving to provide good quality and accurate data. He
further stated that in alignment with the vision of “data for development” and Viksit Bharat 2047,
MoSPI is working towards strengthening National Statistical System which is mainly guided by the
eight principles namely timeliness, enhanced frequency, granularity, coverage, use of latest
technology, optimisation of administrative data, harmonisation of different datasets available in the
country and improved dissemination.
Dr. Poonam Gupta emphasised the significance of revised GDP, CPI and IIP series for monetary
policy and macroeconomic analysis, highlighting RBI's initiatives to strengthen the Database on
Indian Economy (DBIE), enhance timeliness and expand survey systems.
Prof. Mahendra Dev has inaugurated the event and during his address emphasised the importance of
reliable and up-to-date statistics, improved measurement of the informal sector and integration of
digital and administrative data sources such as GSTN, PFMS and NPCI systems.
Technical presentations by senior MoSPI officers provided an overview of improvements in data
sources, methodologies and compilation techniques in GDP, CPI and IIP. In the major updates of GDP
2022-23 series, it is informed that activity-wise share of turnover data from Management &
Administration Form (MGT 7/7A) will be used for segregation of activities in case of multi-activityenterprises in Non-Financial Private Corporations (NFPC) sector. GST data will be explored for
corroborating frame of private corporations and regional allocation of GVA across industries. GVA
estimates of the unincorporated sector will be compiled using industry-wise productivity information
from Annual Survey of Unincorporated Sector Enterprises (ASUSE) and corresponding workforce
estimates from Periodic Labour Force Survey (PLFS). In view of availability of annual results from
these surveys, estimates will be generated annually for unincorporated sector in the new series, as
opposed to the indicator-based extrapolation approach followed in the existing series.
In the proposed changes in CPI, MoSPI highlighted the enhancement in coverage in terms of markets,
towns and items, adoption of Classification of Individual Consumption by Purpose (COICOP) 2018,
refinement in methodology of index compilation, inclusion of new data sources including
administrative and online data, use of latest technology and more granular data dissemination.
The major changes and improvements in the base-year revision of the Index of Industrial Production
(IIP) focus on expanding coverage, enhancing data quality, and better aligning the index with the
evolving industrial landscape through extensive review of the existing item basket, reporting units,
replacing non-operational factories with active units and improved identification and treatment of not
elsewhere classified items. MoSPI is also working on methodological issues and availability of data
to compile chain-based indices and seasonally adjusted IIP series in-line with international best
practices.
In the open house discussions, participants engaged actively, offering feedback on new data sources,
transparency and implications for policy and forecasting. MoSPI officials addressed queries and
clarified proposed changes.
At the closing of the event, Secretary MoSPI thanked all the participants and informed that similar
consultative workshops will be held in the coming months. He also acknowledged the contribution of
the households, enterprises and industries for regularly providing data for generating these key macro-
economic indicators.****
Samrat
(Release ID: 2194901) Visitor Counter : 518
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