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Illustration: Binay Sinha
On September 24, the Ministry of Statistics and Programme Implementation (MoSPI) hosted a conference in Mumbai, bringing together over 50 economists and forecasters from various organisations to deliberate on the revision of the base year for India’s Gross Domestic Product (GDP). This event underscores the importance MoSPI places on wider consultation, especially given the criticism and debates surrounding previous base year revisions. The involvement of such a large number of experts highlights the ministry’s intent to ensure transparency and address the concerns raised during earlier base year changes.
GDP is a broad measure of a country’s economic
