The current base year for GDP is 2011-12. The new tentative base year has been pegged at 2017-18,” Anant said at an interaction organised by Bharat Chamber of Commerce in Kolkata on Friday. “Once compilation of data is complete after the surveys, the actual new base year will then be arrived upon,” he said. Anant said with GST coming into effect from on Saturday, another huge set of data would be generated and give a richer data base. GVA (gross value added) and GDP at constant prices both were expected to be higher as there would be efficiency gains.

Source: Mint June 30, 2017 15:33 UTC