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From FY12 to FY23/24: India's statistical indices to get an update?

Insights

• India is planning to update the base year for its key statistical indices from 2011-12 to FY** or FY** by 2026.
• This shift aims to reflect current economic conditions, consumption patterns, and sectoral changes more accurately.
• The update will impact major indices like CPI, WPI, and IIP, which are crucial for economic analysis and policy formulation.