India's New GDP Series (2022-23 Base Year): Understanding Its Meaning, Changes, and Significance

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India Shifts GDP Base Year to 2022-23: What Changes and Why It Matters

This is the eighth revision of India’s national accounts base year.

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News18•27-02-2026, 17:27

India Shifts GDP Base Year to 2022-23: What Changes and Why It Matters

•India has revised its GDP base year to 2022-23, the eighth such revision, to accurately measure economic growth by removing inflation.
•Key methodological changes include adopting double-deflation for GVA, more granular price adjustments, and integrating new datasets like GST filings and e-Vahan data.
•The new series aligns national accounts with Supply and Use Tables and uses the Denton proportional benchmarking method for quarterly GDP estimation.
•The revision reflects structural changes in the economy, incorporates better data, and uses 2022-23 as a 'normal' reference year unaffected by major disruptions.
•Improved GDP measurement leads to better policymaking and more informed decisions by businesses and households.

Read Full Article on News18 in English

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Dearness Allowance:
Dearness Allowance is paid to offset inflation and rising living costs. It is fully taxable in the hands of employees. Where DA forms part of salary for retirement benefits, it is also included while calculating exemptions such as House Rent Allowance.

Example: If an employee receives ₹12,000 per month as DA, the full ₹12,000 is taxable. If DA is part of salary, it increases the salary base used for HRA exemption calculation.

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