Ministry of Statistics and Programme Implementation Releases 'National Accounts Statistics Compilation Sources and Methods' Publication

The Ministry of Statistics and Programme Implementation (MoSPI) has released a publication titled "National Accounts Statistics Compilation Sources and Methods." This document provides a consolidated description of the concepts, definitions, data sources, methodologies, and compilation methods utilized in the new series. The publication has been made available in record time, just seven months after the launch of the new series.

On February 27, 2026, the Ministry released the new series of National Accounts Statistics with the base year 2022-23, which was subsequently updated on August 31, 2026. This revision marks the eighth base year revision of India's National Accounts Statistics, replacing the previous series based on the 2011-12 base year.

To facilitate this process, a National Accounts Statistics Advisory Committee was constituted on June 27, 2024, under the chairmanship of Professor B.N. Goldar. This committee established sub-committees for various sectors, including one for new data sources chaired by Mr. Manish Kumar Sinha, one for methodology improvement chaired by Professor Dr. G.C. Manna, one for constant price estimates chaired by Professor B.N. Goldar, and one for regional accounts chaired by retired Professor R.H. Dholakia. The main committee held nine meetings along with various workshops and seminars, while the sub-committees conducted more than 35 rounds of meetings.

Data user conferences were organized in Mumbai, New Delhi, and Chennai to gather stakeholder feedback, and detailed consultations were held with the International Monetary Fund (IMF). The publication emphasizes the modernization of estimation methodologies for the corporate, financial, government, and household sectors. Corporate filings and LLP records were used for the non-financial private corporate sector, while a direct estimation method from ASUSE and PLFS was adopted for the household sector.

Improvements have also been made to expenditure-side estimates and quarterly GDP compilation. Private Final Consumption Expenditure (PFCE) has adopted the United Nations' COICOP 2018 classification framework. Furthermore, the report emphasizes replacing the existing benchmarking methodology for quarterly national accounts with a proportional Denton approach and increasing the use of Goods and Services Tax (GST) and other administrative data.

This publication presents the statistical framework for compiling key macroeconomic data, such as Gross Domestic Product (GDP), National Income, Private Final Consumption Expenditure, Gross Fixed Capital Formation (GFCF), and savings. The document is available on the Ministry's official website as a reference guide for policymakers, researchers, and analysts.