National Accounts Statistics 2026 Publication Release

The Ministry of Statistics and Programme Implementation (MoSPI) has released the National Accounts Statistics - 2026 publication with the base year 2022-23. This comprehensive publication provides detailed estimates of national income, production, expenditure, and other key macroeconomic aggregates for the Indian economy, serving as a critical resource for policymakers, researchers, and analysts.

The publication includes sixty statements based on updated Final Estimates for financial years 2022–23 and 2023–24, First Revised Estimates for 2024–25, and four statements on Provisional Estimates for 2025–26 with quarterly GDP estimates from 2022–23 to 2025–26. The estimates cover macroeconomic aggregates including Gross Domestic Product (GDP), national income, per-capita income, price and quantum indices; production and value added statements with sectoral output and GVA breakdowns; consumption and expenditure statements covering Private Final Consumption Expenditure (PFCE) and Government Final Consumption Expenditure (GFCE); savings and capital formation by institutional sector; and public sector and external transaction accounts.

Key Updates and Revisions

The publication incorporates updated annual and quarterly estimates using new series of output Producer Price Index (PPI), Index of Industrial Production (IIP), and Banking Services Price Index (BkSPI) with base year 2022–23 released during June 2026. These new indicators feature structural updates including expanded commodity baskets, removal of obsolete items, methodological alignment with international standards, and improved mapping of price measures to national accounts activities.

The PPI now includes several emerging items and dropped obsolete items from the old WPI series, providing improved price measurement. The IIP (Base: 2022–23) shows greater coverage of items and quotations and uses PPI instead of WPI as underlying price-related inputs. The BkSPI (Base: 2022–23) enables compilation of growth in physical volume and transactional activity of banking services over time.

Impact on GDP Estimates

The incorporation of these updated indicators has resulted in revisions to annual and quarterly GDP estimates from 2022–23 onwards at both current and constant prices. At constant prices, revisions are more visible in sectors where PPI replaced WPI as the price measure. At current prices, revisions in GVA are primarily associated with updated estimates of General Government and Departmental Enterprises due to updated Net Fixed Capital Stock and Consumption of Fixed Capital (CFC) incorporating the PPI series.

The impact varies across sectors: Mining & Quarrying revisions are associated with the new IIP series based on revised mineral production indices; Manufacturing revisions result from expanded PPI coverage improving price measure mapping; Trade services have been updated through PPI replacement of WPI; Public Administration and Ownership of Dwelling show corresponding updates in constant-price estimates from current-price revisions.

Revised GDP Figures

The revised GDP estimates show the following changes:

At current prices:

  • 2022–23: Revised to ₹261.77 lakh crore from ₹261.18 lakh crore
  • 2023–24: Revised to ₹290.73 lakh crore from ₹289.84 lakh crore, with growth rate revised to 11.1% from 11.0%
  • 2024–25 (First Revised Estimates): Revised to ₹317.99 lakh crore from ₹318.07 lakh crore, with growth rate revised to 9.4% from 9.7%
  • 2025–26 (Provisional Estimates): Revised to ₹345.37 lakh crore from ₹346.36 lakh crore, with growth rate revised to 8.6% from 8.9%

At constant prices:

  • 2022–23: Revised to ₹261.77 lakh crore from ₹261.18 lakh crore
  • 2023–24: Revised to ₹280.94 lakh crore from ₹280.01 lakh crore, with growth rate revised to 7.3% from 7.2%
  • 2024–25 (First Revised Estimates): Revised to ₹301.15 lakh crore from ₹299.89 lakh crore, with growth rate revised to 7.2% from 7.1%
  • 2025–26 (Provisional Estimates): Revised to ₹324.70 lakh crore from ₹323.12 lakh crore, with growth rate revised to 7.8% from 7.7%

The revisions for 2025–26 are broader as they are impacted by both benchmark estimate updates for the previous year and the new PPI and IIP series. The Supply and Use Tables (SUTs) for 2022–23 and 2023–24 have also been updated to incorporate these changes and are available on the MoSPI website along with a methodological note.

The detailed estimates are accessible through 64 statements covering key aggregates, sectoral breakdowns, institutional accounts, and detailed economic activity analyses available for download on the MoSPI website.