New Series Provides A Better Measure Of The Economy, Addresses IMF’s Concerns

Ahead of the release of the GDP series with base year 2022-23 on February 27, Business Today TV caught up with Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation to understand the changes that are being introduced. In an interview to Surabhi, he said the mammoth exercise aims to better capture the informal sector of the economy and the government plans to revise the base year at an interval of five years. With the upcoming release of the revised series of the Index of Industrial Production in May end, Dr Garg says that this cycle of data revision will be complete. The Ministry is also undertaking an annual survey of service sector enterprises this year to get information on the services sector.