Annual Joint Discussions on Comparable Estimates of State Domestic Product on New Base Year 2022-23

📌 Summary:

• The National Accounts Division (NAD) of the National Statistics Office (NSO), MoSPI, will hold Annual Joint Discussions on Comparable Estimates of State Domestic Product (SDP) with the Directorates of Economics and Statistics (DES) of States and UTs from 20 May to 19 June 2026 in New Delhi.

• The exercise aims to reconcile differences between SDP estimates compiled independently by the States/UTs and by the NAD, NSO.

• The discussions will focus on current-price GSDP estimates for 2022-23, 2023-24 and 2024-25, based on the revised base year 2022-23.

• The exercise is conducted in four rounds, covering a group of States/UTs each week over three days, with sectoral groups deliberating on revised methodologies and data sources in coordination with State/UT officials.

• The comparable SDP estimates emerging from these discussions are important inputs for national fiscal planning and are used by institutions such as the Finance Commission, the Department of Expenditure and the Comptroller and Auditor General (CAG).

🎯 UPSC Relevance: GS3 — Indian Economy; national accounts, GDP/GSDP estimation, base-year revision, and statistical inputs for fiscal federalism.

📝 Prelims Facts:

• SDP stands for State Domestic Product; GSDP stands for Gross State Domestic Product.

• The new base year for national accounts is 2022-23, revised from 2011-12.

• The National Accounts Division is part of the NSO under the Ministry of Statistics and Programme Implementation (MoSPI).

• Comparable SDP estimates are used by the Finance Commission, the Department of Expenditure and the CAG.

🔑 Key Term: Base year — the reference year against which economic indicators such as GDP and GSDP are measured; periodic revision keeps estimates aligned with the current structure of the economy.