India, Feb. 11 -- Ministry of Statistics and Programme Implementation (MoSPI) has decided a comprehensive exercise for revision of the base year of Gross Domestic Product (GDP), Index of Industrial Production (IIP) and Consumer Price Index (CPI) to enhance their relevance, accuracy and international comparability. The proposed new base year for the GDP and IIP is 2022-23, and for CPI the proposed base year is 2024. Base year revision of GDP, CPI & IIP is guided by the respective Technical Advisory Committee / Expert Groups comprising of experts from Academia, Central and State Governments, RBI etc. The revision work includes methodological improvement, incorporation of new data sources including latest survey data, weight updation etc. In o...