The Ministry of Statistics and Programme Implementation (MoSPI) has revised the base year for National Accounts to 2022-23. This revision aims to more accurately reflect the current structure of the economy by incorporating updated data sources and aligning estimation practices with evolving international standards. Concurrently, the base year for Gross State Value Addition (GSVA) will also be revised by States/UTs to ensure more accurate, consistent, and comparable estimates of the states' economic performance over time, aligning with the GDP at the National level.
A Sub-Committee on Regional Accounts has been constituted under the ACNAS. This committee, chaired by Prof. Ravindra H. Dholakia (Retd.), Professor, IIM Ahmedabad, includes members from State Governments, Research Institutions, the Reserve Bank of India (RBI), Academia, and NITI Aayog. The committee is tasked with reviewing concepts, methodology, and new data sources for compiling State Domestic Product (SDP) and District Domestic Product (DDP).
Key focus areas identified for State Domestic Product (SDP) compilation include:
- Identification and integration of new data sources, such as administrative records, sector-specific databases, and survey-based inputs, to improve the reliability and coverage of estimates.
- Refining estimation techniques to better capture the dynamics of emerging sectors, especially within the services and the unincorporated segment of the economy.
- Ensuring methodological consistency between National and Regional Accounts to maintain alignment with national aggregates.
- Enhancing granularity and improving regional distribution methods, particularly for allocating State-level estimates to districts using scientifically derived indicators and proxies.
- Standardizing compilation practices across states to promote transparency, uniformity, and comparability in Regional Accounts statistics.
The Draft Guidelines are available on the official website of MoSPI for wider dissemination and stakeholder feedback by 27th April, 2026.
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