New GDP series to include data on GST, e-Vahan, household services

New Delhi, Feb 26 (PTI) The new series of Gross Domestic Product (GDP) with base year 2022-23 will include data of goods and services tax, e-Vahan and household services provided by cook, driver and domestic helps, to make economic data more accurate.

The GDP data for third quarter (October-December 2025) based on new series will be released on Friday.

According to FAQ on the new series by MoSPI, the base year is updated from time to time to reflect the changes that have happened in the economy over the years.

The base year of the national accounts is being revised from 2011-12 to 2022-23.

Although Ministry of Statistics and Programme Implementation (MoSPI) revises data series every five years, it could not be done earlier because of Covid pandemic and implementation of GST.

It further said, back series data is expected to be released by December 2026.

In the new series, actual level estimates are being prepared using regular annual surveys such as Annual Survey of Unincorporated Sector Enterprise (ASUSE) and Periodic Labour Force Survey (PLFS). These surveys will measure the dynamism in the household sector more accurately and regularly.

Data from GST will be used for allocation of all-India estimates for private corporate sector across states, and for cross-validation in annual accounts.

As per the FAQ, data from e-Vahan portal will be used to estimate Private Final Consumption Expenditure (PFCE) related to road transport services.

The contribution of the hired domestic workers (like cooks, drivers, persons cleaning households, etc.) by the households will be included in the estimation of GDP.

In the new series, single deflation has been completely eliminated. In fact, double deflation will be applied in sectors like manufacturing and agriculture.

These changes are expected to improve the accuracy and reliability of GDP deflators in the new series.

The base year revision of WPI is still in progress. Until the updated WPI becomes available, the existing WPI will continue to be used as a deflator.

The method of use of WPI has undergone change in new series compared to the old series. In the new series, WPI is used at granular level. PTI KKS CS KKS ANU ANU