Flashlight and PIB connection.
The GDP figures of any country show how fast the economy of that country is growing. GDP is the measure of the economic growth of the country. Now the economy of India is going to take off soon, because there can be a huge change in the GDP of India. After this change, the GDP of the country can be seen at a very high rate. It also has a connection with ‘Lantern’.
In fact, the Indian government is considering changing the base year for calculating the country’s Gross Domestic Product (GDP) from 2011-12 to 2022-23, the agency reported citing sources.
The change will come after a long time.
This change in the base year for calculating GDP will happen for the first time in almost a decade. The base year of GDP was last revised in the financial year 2011-12. Sources say that to present an accurate picture of the Indian economy, the government is considering changing the base year to 2022-23.
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The Ministry of Statistics can provide suggestions.
The suggestion to change the base year of GDP calculation may come from the Ministry of Statistics and Programme Implementation. A proposal in this regard can be sent to the Advisory Committee on National Accounts Statistics (ACNAS). The 26-member advisory committee formed under the chairmanship of Vishwanath Golder will be able to complete this work by early 2026.
The country’s GDP will not be decided by ‘Lantern’
The government may announce the new base year for GDP calculations in February 2026. The new calculation will remove some items like flashlights, VCRs and tape recorders and include new additions like smart watches, phones and processed foods. Apart from this, GST data may also be retained as a new source.
The government is taking several steps to improve the statistical system to get a better and more accurate picture of the unorganised sectors of the economy. Sources said that a survey on the living conditions of tribals in the country, the debt situation at the all-India level and an investment survey, etc. will also be conducted in the financial year 2026-27.
