India's New GDP Series: Digital Data, Dynamic Methods to Boost Accuracy

• India's upcoming GDP series will heavily rely on digital and administrative data, alongside updated survey methodologies.
• The new approach moves away from the older commodity-flow method, using dynamic rates and ratios for consumption estimation.
• Key data sources include e-Vahan, Household Consumption Expenditure Survey (HCES) 2022-23/2023-24, and enterprise surveys.
• MoSPI aims to better capture structural shifts in the economy and improve accuracy by blending multiple datasets and adopting COICOP 2018.
• The new GDP series is set for release on February 27, 2026, with back-series data available within a year.

Why It Matters: India's GDP calculation is modernizing with digital data and dynamic methods for better economic insights.