Release of Supply and Use Tables of 2022-23 and 2023-24: Detailed Product-Industry Insights into the Indian Economy

📌 Summary:

• National Statistical Office (NSO), MoSPI released Supply and Use Tables (SUTs) for 2022-23 and 2023-24
• First comprehensive SUTs compiled under the revised base year of 2022-23, replacing the earlier 2011-12 base year series
• New base-year series of Annual National Accounts Estimates released on 27 February 2026, following UN System of National Accounts (SNA) recommendations
• Annual estimates integrated with SUT framework for first time — eliminates statistical discrepancies between production/income approach and expenditure approach at current prices
• Salient features of SUTs under 2022-23 series: (i) Integration of Annual Estimates with SUT framework — internal consistency per SNA (ii) Alignment with latest classifications — NIC 2025, COICOP 2018 (iii) Improved Non-Financial Private Corporate (NFPC) estimates using MGT-7 (annual returns) and MCA data; comprehensive LLP coverage (iv) Refined Intermediate Consumption (IC) structure — industry-wise input allocation using disaggregated multipliers
• SUTs deliver a comprehensive, data-rich snapshot of production, distribution and utilisation of goods and services across all industries and final demand categories

🎯 UPSC Relevance: GS3 — Indian Economy (GDP measurement, statistical framework reforms, integration with SNA).

📝 Prelims Facts:

• SUT = Supply and Use Tables; first comprehensive set under base year 2022-23
• NSO = National Statistical Office; under MoSPI (Ministry of Statistics & Programme Implementation)
• SNA = System of National Accounts (UN framework, latest 2008 SNA recommendations)
• NIC 2025 = National Industrial Classification 2025
• COICOP 2018 = Classification of Individual Consumption by Purpose, 2018
• MGT-7 = Annual Return form filed by companies under Companies Act, 2013
• New base-year series of National Accounts released: 27 February 2026

🔑 Key Term: Supply and Use Tables (SUTs) — A matrix-based national accounts framework that maps the supply of all goods and services (production + imports) against their use (intermediate consumption + final consumption + capital formation + exports), reconciling the production, income and expenditure approaches to GDP and ensuring internal consistency.