India's 2011-12 GDP rebasing raised FY14 real growth to 6.9%
India keeps updating how it measures its GDP, and these changes can really shift the numbers.
For example, when the base year moved to 2011-12, FY14's real GDP growth jumped by nearly 1.9% points to 6.9%.
These updates use more detailed data, like information from the Ministry of Corporate Affairs, to paint a clearer picture of how the economy's actually doing.
India's nominal GDP revised upward
Nominal GDP growth got bumped up too, with FY13 rising from 12.2% to 13.1%, and FY14 from 12.3% to 13.6%.
The newest series for 2022-23 now pulls in fresh sources like GST, e-Vahan, and Public Finance Management System data, aiming for better accuracy especially in household and small business sectors.
Past revisions (like those in 1999-2000 and 2004-2005) have also changed historical growth rates, showing that rebasing is key for keeping India's economic statistics reliable and up-to-date.