Key Points
The advisory committee tasked with revision of the base year for national accounts is likely to choose between the financial years 2022-23 and 2023-24..
Results of several surveys for these two years have been released or will soon be released, noted a source, adding that a decision on this will be taken when the panel meets..
Base year revision of the consumer price index (CPI), the index of industrial production (IIP), and the wholesale price index (WPI) would be separate exercises, the source said, adding that the expert panel has not been asked to review these for now...
The committee, which is chaired by Biswanath Goldar, former professor at the Institute of Economic Growth, has been mandated to review the existing data bases and advise on inclusion of new data sources for improving the estimates of National Accounts...
It has also been mandated to advise on the methodology for compilation and presentation of National Accounts Statistics and also advise on base year for national accounts and its alignment with other related products like WPI or the Producers Price Index (PPI), CPI, IIP...
