EconomyFriday, 8 May 2026·https://testbook.com/current-affairs/08-may-2026-daily-current-affairs
MoSPI updates GSVA and GSDP base year to 2022-23 in May 2026
MoSPI released uniform guidelines on 7 May 2026 to compile GSVA and GSDP estimates using 2022-23 as the new base year.
Key highlights
Direct fact
On 7 May 2026, the Ministry of Statistics and Programme Implementation released uniform guidelines for compiling GSVA and GSDP estimates, shifting the base year to 2022-23.
Key specifics
- The earlier base year for the series was 2011-12.
- The formula used is GSDP = GSVA + Net Taxes on Products.
- The framework covers all 36 States and Union Territories, including Lakshadweep and Dadra & Nagar Haveli and Daman & Diu.
- The transition was developed by the Sub-Committee on Regional Accounts under ACNAS, chaired by Prof. Ravindra H. Dholakia.
- GSDP is used by the Finance Commission and the Ministry of Finance for devolution and borrowing limits.
Exam lens
Economy and statistics question, MoSPI, GSVA, GSDP, 2022-23 base year, 36 States and UTs, Prof. Ravindra H. Dholakia; TNPSC may ask the formula and institutional use.