Last week, the National Statistics Office released the new GDP series, taking another step towards plugging gaps in the country’s data architecture. The series incorporates richer data sources spanning both the formal and informal sectors, revises estimation methodologies, and responds to criticisms of the earlier series. It is better equipped to reflect the evolving structure of the Indian economy and capture its many shifting facets. The new series follows several recent initiatives aimed at improving the accuracy and availability of economic data, including the new inflation series, surveys on household consumption and unincorporated enterprises, and more frequent labour market surveys. However, in nominal terms, the size of the economy is now estimated to be 3.8 per cent lower in 2024-25.

Source: Indian Express March 02, 2026 09:53 UTC