Neutral impactEconomy
Former chief statistician Pronab Sen seeks two GDP series with old, new bases for five years
Economic Times 1 hr ago·3 Sept 2026, 6:59 pm
Former chief statistician Pronab Sen has proposed a significant change to India's economic reporting. He suggests that the government maintain two separate Gross Domestic Product (GDP) series for the next five years: one using the old base year and another using the new base year. This dual approach aims to provide a more accurate comparison of economic growth over time.
This proposal is a direct response to recent concerns regarding the accuracy of India's GDP figures. Critics have questioned the methodology used to calculate the 'back series,' which estimates economic growth before the new series began. By keeping both series active, the government can better address these concerns and ensure that the data reflects the true state of the economy.
Investors should watch for the National Statistical Office's (NSO) official response to this proposal. The NSO is expected to release a detailed report on the matter by December 2026. Any decision to adopt this dual series will likely provide greater clarity on the country's economic trajectory and help stabilize investor sentiment.
Excerpt from Economic Times
Advocating for dual GDP series, former chief statistician Pronab Sen argues that accurate double deflation is contingent upon extensive data on input and output prices. Following India's introduction of a new GDP series, unease surrounding the growth figures and protocols for the back series has surfaced, leading to…Read the original at Economic Times
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