New Delhi, Jan. 30 -- The revision of base years for key economic indicators such as GDP, Consumer Price Index (CPI) inflation and the Index of Industrial Production (IIP) is expected to significantly improve the quality and usability of data for artificial intelligence (AI) and machine learning applications, Secretary of the Ministry of Statistics and Programme Implementation (MoSPI) Saurabh Garg said on Friday.

While speaking with ANI, Garg said these indicators are critical inputs for institutions that project future economic growth, while the government continues to publish actual growth rates for current and past years.

"It is extremely important to update base years because the structure of the economy changes over time, new data ...