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India revised GDP data using 2022-23 base year, lowering nominal GDP by 3% but confirming 7%+ growth for three years, improving accuracy through better data collection and methodology.
India has updated its GDP measurement using the 2022-23 base year, resulting in a 3% lower nominal GDP estimate but confirming three consecutive years of growth above 7% post-pandemic.
The revision improves accuracy through better data from GST and PFMS, double deflation, and enhanced tracking of informal sectors, digitalization, and multi-activity enterprises.
Sectoral shares shift: agriculture rises to 17.4%, industry to 25.4%, services fall to 48%.
Private consumption drops to 56.7%, investment rises to 31.9%.
The changes are methodological, not economic, and aim to boost data quality and international comparability.
A back-series is expected by December 2026.
India revisó los datos del PIB utilizando el año base 2022-23, reduciendo el PIB nominal en un 3%, pero confirmando un crecimiento de más del 7% durante tres años, mejorando la precisión mediante una mejor recopilación de datos y metodología.