New base years: GDP and IIP 2022-23, CPI 2024
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Asked by UPSCPrelims 20201 PYQ
UPSC has already asked about this. Read the story with these questions in mind.
What happened
- MoSPI proposes 2022-23 as the new base year for GDP and IIP, and 2024 for CPI, with CPI weights from HCES 2023-24 [PIB, Parliament reply].
- A decision on the 8th Economic Census is yet to be taken [PIB].
Background
- Base years are revised to capture structural change [PIB].
Why it matters
- Old weights overstate items people now buy less of, distorting inflation.
How to use this in Mains
- As per PIB (2025-08-06): moSPI proposes 2022-23 as the new base year for GDP and IIP, and 2024 for CPI, with CPI weights from HCES 2023-24.
- Old weights overstate items people now buy less of, distorting inflation.
Quotable data pointA decision on the 8th Economic Census is yet to be taken.
PIB: Base year for GDP, IIP and CPI, 6 Aug 2025
Exam angle
UPSC
Prelims: proposed base years.
Practice MCQs
Original practice questions (not PYQs).
Practice · UPSC
Proposed CPI base year
Answer (c) & explanation
PIB.
Practice · UPSC
Proposed GDP base year
Answer (b) & explanation
PIB.
Go deeper
ExplainerInflation for UPSC: Meaning, Types, CPI vs WPI, Causes, Effects and How India Controls It (Notes + PYQs)ExplainerGDP for UPSC: Meaning, Methods, GDP vs GVA vs GNP, Nominal vs Real, Base Year and Criticisms (Notes + PYQs)
Official source: PIB: Base year for GDP, IIP and CPI, 6 Aug 2025
facts from cited sources only; faculty review pending