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GDP – Base Year change
February 18 , 2018
2342 days
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- The government is set to revise the base years of Gross Domestic Product (GDP), Index of Industrial Production (IIP) and Consumer Price Index (CPI) in order to "accommodate and factor" the economic changes in the country.
- The government currently uses 2011-2012 as the base year to calculate economic output.
- The Ministry of Statistics and Programme Implementation (MOSPI) has proposed the new base year to 2017-18 for the calculation of GDP and IIP numbers, while for retail inflation(CPI) the year will be revised to 2018.
- The ministry also proposes to launch a Time Use Survey, which aims at assessing the contribution of women in non-marketed social and economic activities, which have not been measured so far.
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