2015 India GDP rebasing: Difference between revisions
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Revision as of 00:15, 3 August 2024
2015 India GDP rebasing
In 2015, the Government of India undertook a significant rebasing of its Gross Domestic Product (GDP) calculations, moving the base year from 2004-05 to 2011-12. This revision aimed to provide a more accurate representation of the country's economic performance by incorporating updated data and improved methodologies. The rebasing revealed that India had emerged as the world's fastest-growing major economy, with a reported GDP of â¹136 lakh crore (approximately $2 trillion) for the fiscal year 2014-15. The change sparked widespread debate regarding India's economic status, investment climate, and methods of data collection used by the Central Statistics Office (CSO). This rebasing also facilitated comparisons with global economic indicators and enhanced the credibility of India's economic data.