Executive Summary

The Ministry of Statistics and Programme Implementation (MoSPI) has successfully concluded its third and final Pre-release Consultative Workshop in Chennai on January 30, 2026. This high-level meeting focused on the upcoming base revisions for India's critical economic indicators: Gross Domestic Product (GDP), Index of Industrial Production (IIP), and the Consumer Price Index (CPI). The primary goal was to ensure transparency and gather expert feedback before the new data series goes live.

Key Release Dates & Facts
CPI (Base 2024)

Release Date: February 12, 2026

GDP (Base 2022-23)

Release Date: February 27, 2026

IIP (Base 2022-23)

Release Date: May 28, 2026

Key Participant

Dr. C. Rangarajan (fmr RBI Governor)

Highlights & Official Statements

Emphasis on Data Integrity

Chief Guest Dr. C. Rangarajan stressed that for official statistics to remain credible, they must be reliable and transparent. He noted that revising the base year is a standard but vital procedure to accurately reflect the structural shifts occurring within the Indian economy.

Modernizing Methodologies

MoSPI Secretary Dr. Saurabh Garg highlighted the government's push for data-driven policy formulation. He announced new initiatives to make data more "granular" and accessible via mobile applications, ensuring that statistics are not just for economists but useful for the wider public.

Economic Transformation

Dr. Shamika Ravi, Member of the EAC-PM, pointed out that India’s economy is evolving rapidly. She argued that the statistical systems must adapt in real-time to capture the true scale of this activity, urging that data becomes an asset only when it is widely used and easily understood.

Technical Sessions Breakdown

Following the inaugural address, the workshop split into three specialized technical sessions to discuss methodology improvements:

  • GDP Session: Chaired by Prof. Biswanath Goldar (Institute of Economic Growth).
  • IIP Session: Chaired by Prof. Mridul K Saggar (IIM Kozhikode).
  • CPI Session: Chaired by Shri Ashish Kumar (Ex-DG, MoSPI).

These sessions allowed experts from institutions like Goldman Sachs, Barclays Bank PLC, and the RBI to scrutinize the proposed changes.

Source Information

The information is based on the official press release by the Ministry of Statistics & Programme Implementation regarding the outcome of the Chennai workshop.

Official Source: Read Full Press Release (PIB)

India’s Statistical Framework Overhaul: MoSPI Concludes Final Consultative Workshop in Chennai - Image 1

Frequently Asked Questions

Q. Why is the Base Year being revised?
Base years are revised to ensure that economic data (like GDP and Inflation) accurately reflects the current consumption patterns and structural changes in the economy, rather than relying on outdated metrics.
Q. When will the new Inflation (CPI) data be released?
The new Consumer Price Index (CPI) series, with the base year of 2024, is scheduled for release on February 12, 2026.
Q. Who attended this workshop?
Over 150 participants attended, including representatives from the RBI, NITI Aayog, Goldman Sachs, Barclays, and academic institutions like the Madras School of Economics.
Q. How can the public provide feedback?
Discussion papers regarding the proposed improvements are available on the MoSPI website (www.mospi.gov.in), where users can submit their comments and suggestions.