India Revamps GDP Calculation: New Base Year Set to 2022-23

In a significant move aimed at improving the accuracy and relevance of its economic measurements, India has announced that it will update the base year used for calculating its Gross Domestic Product (GDP) from 2011-12 to 2022-23. This decision, which is expected to provide a more accurate reflection of the country's economic activity amidst changing circumstances, marks a critical step in the government's efforts to enhance the country's financial transparency and policy effectiveness.

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