Statistics Ministry Defends GDP Revisions and New Base Year Methodology

2 Sept 2026, 6:59 pm · 10d ago · 1 min read · YourStory

India’s Ministry of Statistics and Programme Implementation has defended the methodology behind its updated economic growth estimates, clarifying that revisions reflect data upgrades rather than deliberate attempts to inflate growth. The ministry released revised GDP figures using 2022-23 as the base year, incorporating a new Producer Price Index and Banking Services Price Index. Addressing questions regarding discrepancies and negative manufacturing deflators, officials explained that the double-deflation method accounts for intermediate consumption price fluctuations. According to the revised data series, India’s gross domestic product expanded by 7.8% in real terms during the first quarter of fiscal year 2026-27.