The statistics ministry on Thursday issued uniform guidelines for calculating Gross State Domestic Product (GSDP) with 2022-23 as the revised base year, aiming to bring greater consistency and comparability in measuring economic performance across states and Union Territories, PTI reported.The Ministry of Statistics and Programme Implementation (MoSPI) said the move follows the revision of the national accounts base year to 2022-23 to better reflect the current structure of the economy through updated data sources and improved estimation practices aligned with evolving global standards.“In line with this change, states and Union Territories are required to adopt the new base year for compilation of Gross State Domestic Product (GSDP) to ensure greater accuracy, consistency and comparability in assessing regional economic performance,” the ministry said in a statement.According to the ministry, the new guideline provides a standardised framework aimed at ensuring consistency, reliability and comparability of state-level economic estimates.GSDP figures are widely used by the finance ministry, Finance Commission, Comptroller and Auditor General (CAG) and other agencies for fiscal devolution, policy formulation, budgeting, resource allocation and inter-state performance assessment.At present, 34 states and Union Territories compile GSDP estimates using 2011-12 as the base year, except Lakshadweep and Dadra & Nagar Haveli and Daman & Diu.“In the new series with base year 2022–23, the ministry said it is making concerted efforts to onboard all states/UTs, including Lakshadweep and DNH&DD, to ensure complete national coverage and uniformity in the compilation of regional accounts,” the statement said.
