2 Dec 2025
India currently uses 2011-12 as the base year, which is missing digital transactions, gig work, and many new industries.
India uses around 700 granular indicators, like digital transactions, transport and logistics data, sector-wise production figures, price indices, and employment and consumption surveys. These highly detailed, specific data points are the building blocks for National Account Statistics (NAS), which provide an overall picture of the economy.
The International Monetary Fund (IMF) rated India’s NAS ‘C’, citing shortfalls hampering surveillance. The other datasets, like price indices, government finance, monetary statistics, and sector-wise production, received a ‘B’ rating.
The Indian GDP surged to 8.2% in the July-September quarter, the highest in six months, and far surpassing the expected growth rate of 7.2%. Strong domestic demand, GST rate cuts, robust services exports, and stronger industrial output drove GDP growth.
The US Bureau of Economic Analysis rebases every five years. In 2013, they included R&D and investments, thereby significantly raising the GDP and aligning it with the United Nations’ 2008 System of National Accounts.
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