New Delhi, Jan. 13 -- India has entered the final stretch of measuring its economy using a statistical framework that is more than a decade old. On 7 January, the statistics ministry released the first advance estimates of gross domestic product (GDP), projecting real growth of 7.4% for financial year 2025-26 (FY26) and nominal growth of 8%, a number that would typically anchor policy debates, budget arithmetic and market expectations. This time, however, its shelf life may be unusually short.

In February, the government will roll out a revised GDP series with 2022-23 as the new base year, replacing the existing 2011-12 framework. Once the new series is adopted, growth rates, nominal GDP levels and key fiscal ratios could be recalculated...