Govt to revise GDP base year to 2011-2012

Posted By: Religare
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    Govt to revise GDP base year to 2011-2012
    In order to capture a clear picture of the economy, the government has initiated the process to change the base year to 2011-12 for computing the country's gross domestic product (GDP), said the media report.

    At present, the base year for calculating the GDP is 2004-05, which had been changed from 1993-94 in 2006, it added.

    "We have undertaken the process of revising base year for calculating the GDP. With the passage of time new products are manufactured and new data is added," Chief Statistician T C A Anant told media.

    However, he did not commit on the timeframe for changing the base year for computing GDP.

    Read more about: govt gdp
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