The National Statistical Office (NSO) is planning to incorporate new digital data sources, such as vehicle registrations and online payments, to update how it calculates the country’s Gross Domestic Product (GDP). Additionally, data from Over-The-Top (OTT) platforms and administrative records for fuel and LPG prices are being considered for the new Consumer Price Index (CPI) — which measures retail inflation.
Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation (MoSPI), said that for the GDP calculation, the NSO is exploring using data from the GST portal, the e-Vahan vehicle registration portal, and UPI transaction data from the National Payments Corporation of India (NPCI). This is in addition to the traditional data sources such as the Office of Controller General of Accounts (CGA), MCA-21, and the RBI. The updated GDP series, with a base year of 2022-23 (replacing the current 2011-12), is scheduled for release on February 27, 2026.
The base year for retail inflation is also set to change — from 2012 to 2024. Garg explained that the new CPI series will be more comprehensive. The NSO is exploring alternative data sources, including online platforms for air and rail fares, OTT platforms, and administrative records for petrol, diesel, and LPG prices. To improve accuracy and efficiency, the ministry is also considering the use of scanner data and web scraping methods, to collect price information, and is exploring the possibility of gathering data from e-commerce websites.
The item basket and weights for the new CPI series will be based on data from the Household Consumption Expenditure Survey (HCES) 2023-24. While the final weighting diagram is still being determined, Garg expects the number of items in the CPI basket to increase. The new CPI series is expected to be published starting in the first quarter of 2026.
According to the National Institute of Public Finance and Policy (NIPFP), the current CPI basket has 299 items, with 40 representing services and 259 representing goods. Services account for 23.36 per cent of the total weight, while goods account for 76.6 per cent. Food and beverages have the highest weight, at over 50 per cent.
In response to whether the Wholesale Price Index (WPI) will also be revised, Garg noted that a Working Group has been formed by the Department for Promotion of Industry and Internal Trade (DPIIT) to revise the WPI’s base year from 2011-12 to 2022-23. The group will also review the commodity basket for the new series.
