Why it is in the news
On 21 September 2026, the Ministry of Statistics and Programme Implementation (MoSPI) released Sources and Methods for Compilation of National Accounts Statistics for the new GDP series with 2022-23 as base year. The document confirms that double deflation, which adjusts output and input prices separately, was used in 28 of 30 manufacturing categories. The two exceptions are meat, fish, fruit, vegetables, oils and fats processing and pharmaceuticals, medicinal chemicals and botanical products, where heavy reliance on imported inputs makes item-level price matching difficult.
The exam angle
Issue: Credible GDP data underpin monetary policy, fiscal targets and investor confidence. Does the 2022-23 series, with double deflation and direct measurement of the informal sector, settle the credibility debate around Indian growth statistics?