This is intended to provide a more accurate reflection of economic conditions by aligning the base year with recent economic realities.
To streamline data analysis and improve consistency, the government also intends to maintain a common base year for GDP and CPI data.
Earlier, the Ministry of Statistics and Programme Implementation (MoSPI) reconstituted the Advisory Committee on National Accounts Statistics, to advise the government on the Base year reviews for key economic data sets, among other matters.
At the time, officials indicated that the government would be ready with the new base year on this calendar. The government last revised the base year to 2011-2012 as of January 2015.
In addition, starting in September, rural employment data will be published on a quarterly basis to improve the transparency and timeliness of employment information in rural areas. Starting in January, rural employment data will be published on a monthly basis, allowing for even more frequent updates and insights into rural employment trends.
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