The GDP data for third quarter (October-December 2025) based on new series will be released on Friday.
New Delhi:The new series of Gross Domestic Product (GDP) with base year 2022-23 will include data of goods and services tax, e-Vahan and household services provided by cook, driver and domestic helps, to make economic data more accurate.
The GDP data for third quarter (October-December 2025) based on new series will be released on Friday.
According to FAQ on the new series by MoSPI, the base year is updated from time to time to reflect the changes that have happened in the economy over the years.
The base year of the national accounts is being revised from 2011-12 to 2022-23.
Although Ministry of Statistics and Programme Implementation (MoSPI) revises data series every five years, it could not be done earlier because of Covid pandemic and implementation of GST.
It further said, back series data is expected to be released by December 2026.
In the new series, actual level estimates are being prepared using regular annual surveys such as Annual Survey of Unincorporated Sector Enterprise (ASUSE) and Periodic Labour Force Survey (PLFS). These surveys will measure the dynamism in the household sector more accurately and regularly.
Meanwhile, the Indian economy is expected to record a growth rate closer to 8.1 per cent in the September-December quarter under the revised series with the new base year of 2022-23, a report said on Tuesday.
The country witnessed a growth rate of 8 per cent in the first half of the ongoing financial year ending in March 2026.
According to the first advance estimate of the National Statistics Office (NSO) last month, real GDP has been estimated to grow by 7.4 per cent in FY 2025-26 against the growth rate of 6.5 per cent in the previous financial year.
The second advance estimates of GDP for FY26, incorporating additional data and revisions, are scheduled to be released on February 27. So, all the previous quarterly numbers of the first quarter and the second quarter are expected to change with the change in base year to 2022-23.
High-frequency activity data indicates resilient economic activity in 3QFY26. Rural consumption remains strong, driven by positive signals from farm and non-farm activity. Supported by fiscal stimulus, urban consumption shows a consistent uptick since the last festive season,” a report from State Bank of India’s Economic Research Department said.
“Overall, we expect Q3FY26 real GDP growth of closer to 8.1 per cent. Given significant methodological changes, it is difficult to predict the direction of revision,” it said.
It further said Scheduled Commercial Banks’ (SCBs) deposit growth remains muted compared to credit growth.
As per the latest RBI data, aggregate deposits grew by 12.5 per cent, while credit grew by 14.6 per cent.
With the rise in CD ratio, the gap between deposits and credit growth has increased, but such gaps are nothing new to the banking system, it said.